Systematic Financial Management LP Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Systematic Financial Management LP bought a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,485 shares of the company’s stock, valued at approximately $726,000.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in PENN Entertainment by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after purchasing an additional 665 shares during the period. United Services Automobile Association grew its stake in shares of PENN Entertainment by 6.3% during the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock worth $232,000 after acquiring an additional 712 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of PENN Entertainment by 6.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock worth $247,000 after acquiring an additional 720 shares during the period. Arizona State Retirement System raised its stake in PENN Entertainment by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after acquiring an additional 944 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at PENN Entertainment

In other news, Director David A. Handler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $17.51 per share, with a total value of $175,100.00. Following the acquisition, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 3.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.19% of the company’s stock.

PENN Entertainment Price Performance

PENN stock opened at $20.74 on Friday. The company’s 50 day moving average is $19.85 and its 200 day moving average is $18.99. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Craig Hallum reiterated a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Truist Financial dropped their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna reduced their price target on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.29.

PENN Entertainment Company Profile

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.