L & S Advisors Inc Takes $1.94 Million Position in PENN Entertainment, Inc. (NASDAQ:PENN)

L & S Advisors Inc acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 100,103 shares of the company’s stock, valued at approximately $1,937,000.

A number of other institutional investors have also recently bought and sold shares of PENN. B. Riley Wealth Advisors Inc. boosted its stake in PENN Entertainment by 7.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock worth $252,000 after purchasing an additional 632 shares during the period. United Services Automobile Association increased its holdings in 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 lifted its stake in PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock worth $247,000 after purchasing an additional 720 shares in the last quarter. Arizona State Retirement System boosted its holdings 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 purchasing an additional 944 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in PENN Entertainment by 233.6% in the 2nd 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 period. Institutional investors own 91.69% of the company’s stock.

Insider Activity at PENN Entertainment

In other news, CEO Jay A. Snowden purchased 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PENN Entertainment news, Director Anuj Dhanda acquired 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the transaction, the director now owns 31,523 shares in the company, valued at $580,023.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The disclosure for this purchase can be found here. Insiders bought 79,200 shares of company stock worth $1,450,548 in the last three months. 2.19% of the stock is owned by insiders.

PENN Entertainment Trading Up 0.6 %

NASDAQ PENN opened at $20.02 on Tuesday. The firm has a market cap of $3.06 billion, a PE ratio of -2.69 and a beta of 2.10. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The stock has a 50-day moving average of $18.96 and a 200-day moving average of $17.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post -1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

PENN has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Morgan Stanley lowered their price target on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Barclays boosted their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Stifel Nicolaus raised their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Susquehanna reiterated a “positive” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.77.

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.