Point72 Asia Singapore Pte. Ltd. Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 11,446 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PENN. Price T Rowe Associates Inc. MD increased its position in PENN Entertainment by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,958 shares of the company’s stock worth $1,620,000 after purchasing an additional 4,493 shares during the period. Cetera Investment Advisers boosted its stake in shares of PENN Entertainment by 186.2% during the 1st quarter. Cetera Investment Advisers now owns 126,807 shares of the company’s stock worth $2,309,000 after acquiring an additional 82,494 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of PENN Entertainment by 184.3% during the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after acquiring an additional 39,356 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of PENN Entertainment during the 2nd quarter worth approximately $83,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Transactions at PENN Entertainment

In other news, Director David A. Handler acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 3.53 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anuj Dhanda purchased 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now owns 31,523 shares in the company, valued at $580,023.20. This represents a 90.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

PENN has been the topic of several research analyst reports. Craig Hallum reissued a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a research note on Tuesday, October 8th. Stifel Nicolaus boosted their price target on PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Barclays reduced their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.29.

PENN Entertainment Trading Up 1.9 %

Shares of PENN Entertainment stock opened at $21.91 on Thursday. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The firm has a market cap of $3.34 billion, a PE ratio of -6.17 and a beta of 2.08. The business’s fifty day moving average is $19.77 and its two-hundred day moving average is $18.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 EPS. Analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.