Vanguard Group Inc. Buys 97,945 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Vanguard Group Inc. boosted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,729,920 shares of the company’s stock after acquiring an additional 97,945 shares during the quarter. Vanguard Group Inc. owned approximately 9.66% of PENN Entertainment worth $383,273,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in PENN Entertainment during the 4th quarter worth about $16,341,000. Neo Ivy Capital Management bought a new stake in PENN Entertainment during the 4th quarter worth about $40,000. Flight Deck Capital LP bought a new position in shares of PENN Entertainment in the 4th quarter valued at about $3,511,000. III Capital Management bought a new position in shares of PENN Entertainment in the 4th quarter valued at about $1,301,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of PENN Entertainment in the 4th quarter valued at about $650,000. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the completion of the acquisition, the director now directly owns 283,450 shares of the company’s stock, valued at $4,234,743. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the completion of the acquisition, the director now directly owns 283,450 shares of the company’s stock, valued at $4,234,743. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Felicia Hendrix acquired 16,157 shares of the stock in a transaction dated Monday, May 6th. The stock was acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the acquisition, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The disclosure for this purchase can be found here. Insiders have acquired 76,157 shares of company stock worth $1,154,949 over the last ninety days. Insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $18.89 on Friday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $29.38. The company has a market capitalization of $2.88 billion, a P/E ratio of -2.54 and a beta of 2.06. The company’s 50 day moving average price is $16.90 and its two-hundred day moving average price is $19.53.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, analysts expect that PENN Entertainment, Inc. will post -1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PENN. Barclays reduced their target price on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Mizuho raised their target price on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Finally, Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd. One research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.10.

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.