Quantbot Technologies LP Has $3.93 Million Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Quantbot Technologies LP increased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 84.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,094 shares of the company’s stock after buying an additional 95,423 shares during the quarter. Quantbot Technologies LP owned 0.14% of PENN Entertainment worth $3,925,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PENN. GAMMA Investing LLC boosted 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment during the third quarter valued at approximately $45,000. Quest Partners LLC acquired a new stake in PENN Entertainment during the third quarter valued at approximately $56,000. International Assets Investment Management LLC boosted its holdings in PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in PENN Entertainment during the second quarter valued at approximately $83,000. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Up 0.6 %

Shares of NASDAQ PENN opened at $21.29 on Wednesday. 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, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The company has a fifty day moving average price of $19.52 and a 200 day moving average price of $18.74.

PENN Entertainment (NASDAQ:PENN) last announced its 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. As a group, equities analysts expect that PENN Entertainment, Inc. will post -1.53 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Bank of America assumed coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price for the company. Susquehanna dropped their price objective on shares of 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, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.29.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda acquired 15,000 shares of PENN Entertainment stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. This represents a 90.78 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Handler bought 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the acquisition, the director now owns 293,450 shares in the company, valued at $5,138,309.50. This trade represents a 3.53 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 79,200 shares of company stock worth $1,450,548 in the last three months. Insiders own 2.19% of the company’s stock.

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.