Landscape Capital Management L.L.C. Buys Shares of 34,215 PENN Entertainment, Inc. (NASDAQ:PENN)

Landscape Capital Management L.L.C. purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,215 shares of the company’s stock, valued at approximately $645,000.

Several other hedge funds also recently modified their holdings of the business. Driehaus Capital Management LLC acquired a new position in PENN Entertainment during the 2nd quarter valued at $4,535,000. Virtu Financial LLC acquired a new position in shares of PENN Entertainment during the first quarter valued at about $1,098,000. Cetera Advisors LLC lifted its stake in shares of PENN Entertainment by 184.3% in the first quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock valued at $1,105,000 after buying an additional 39,356 shares during the period. Public Sector Pension Investment Board acquired a new stake in PENN Entertainment during the second quarter worth about $6,363,000. Finally, GAMMA Investing LLC increased its stake 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 acquiring an additional 1,009 shares during the period. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PENN has been the topic of a number of research reports. Susquehanna lowered their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. Barclays dropped their price objective 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. Macquarie lifted their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Craig Hallum reissued a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Finally, Mizuho decreased their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. One investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.29.

Insiders Place Their Bets

In related news, Director David A. Handler acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. This trade represents a 3.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay A. Snowden acquired 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 79,200 shares of company stock valued at $1,450,548. Insiders own 2.19% of the company’s stock.

PENN Entertainment Trading Up 1.5 %

Shares of PENN opened at $20.52 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -5.78 and a beta of 2.09. The stock has a fifty day moving average price of $19.47 and a two-hundred day moving average price of $18.62. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The company had revenue of $1.64 billion during 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 firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. Analysts predict that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal 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.