Healthcare of Ontario Pension Plan Trust Fund Purchases New Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 301,800 shares of the company’s stock, valued at approximately $5,841,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.20% of PENN Entertainment at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PENN. B. Riley Wealth Advisors Inc. grew its holdings in PENN Entertainment by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock worth $252,000 after acquiring an additional 632 shares during the period. United Services Automobile Association grew its holdings in shares of PENN Entertainment by 6.3% in the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after buying an additional 712 shares during the period. Aaron Wealth Advisors LLC grew its holdings in shares of PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock valued at $247,000 after buying an additional 720 shares during the period. Arizona State Retirement System lifted its position 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 acquiring an additional 944 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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 acquiring an additional 1,009 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Friday. Morgan Stanley decreased their price target on shares of PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Craig Hallum upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the company from $20.00 to $30.00 in a research note on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of 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, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and an average price target of $23.77.

Insider Activity at PENN Entertainment

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

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $18.96 on Friday. The company has a market cap of $2.89 billion, a PE ratio of -2.54 and a beta of 2.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The company has a 50 day moving average of $18.88 and a 200-day moving average of $18.02. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, equities research analysts forecast that PENN Entertainment, Inc. will post -1.32 earnings per share for the current fiscal year.

PENN Entertainment 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.