PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by Creative Planning

Creative Planning lifted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 16.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,775 shares of the company’s stock after purchasing an additional 2,057 shares during the period. Creative Planning’s holdings in PENN Entertainment were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Driehaus Capital Management LLC purchased a new stake in PENN Entertainment during the 2nd quarter worth about $4,535,000. Vanguard Group Inc. lifted its stake in PENN Entertainment by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after purchasing an additional 97,945 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in PENN Entertainment by 281.4% in 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 in the last quarter. Virtu Financial LLC purchased a new position in PENN Entertainment in the first quarter valued at approximately $1,098,000. Finally, Cetera Advisors LLC raised its holdings in PENN Entertainment by 184.3% during the first 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. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Up 1.1 %

Shares of PENN Entertainment stock opened at $18.99 on Friday. 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 quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day moving average of $18.92 and a two-hundred day moving average of $18.07. The company has a market cap of $2.90 billion, a P/E ratio of -2.34 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. On average, analysts forecast that PENN Entertainment, Inc. will post -1.32 earnings per share for the current year.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have recently issued reports on PENN shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Macquarie reaffirmed an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday, August 9th. Craig Hallum reiterated a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a research report on Tuesday, October 8th. Morgan Stanley dropped their price target on 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and an average target price of $23.75.

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.