PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by New World Advisors LLC

New World Advisors LLC lifted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,800 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. New World Advisors LLC’s holdings in PENN Entertainment were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Driehaus Capital Management LLC bought a new stake in shares of PENN Entertainment during the 2nd quarter worth $4,535,000. Capstone Investment Advisors LLC lifted its holdings in shares of PENN Entertainment by 281.4% during the first quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company’s stock valued at $1,075,000 after purchasing an additional 43,566 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of PENN Entertainment in the 1st quarter valued at $1,098,000. Cetera Advisors LLC increased its stake in PENN Entertainment by 184.3% in the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after purchasing an additional 39,356 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in PENN Entertainment by 300.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 36,975 shares of the company’s stock worth $673,000 after buying an additional 27,743 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PENN Entertainment news, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David A. Handler acquired 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the transaction, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 79,200 shares of company stock valued at $1,450,548 in the last three months. Company insiders own 2.19% of the company’s stock.

Analyst Ratings Changes

PENN has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Craig Hallum reiterated a “buy” rating and set a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Wells Fargo & Company raised their target price on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and a consensus price target of $22.96.

PENN Entertainment Stock Performance

Shares of PENN stock traded up $0.72 during trading on Friday, reaching $19.91. The company had a trading volume of 3,771,669 shares, compared to its average volume of 5,223,786. The firm’s 50 day simple moving average is $18.93 and its two-hundred day simple moving average is $18.13. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $3.04 billion, a PE ratio of -2.45 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that PENN Entertainment, Inc. will post -1.37 earnings per share for the current year.

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.