ASB Consultores LLC Boosts Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

ASB Consultores LLC increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,200 shares of the company’s stock after purchasing an additional 1,100 shares during the period. ASB Consultores LLC’s holdings in PENN Entertainment were worth $268,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after buying an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $45,000. International Assets Investment Management LLC boosted its stake in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares during the period. J.Safra Asset Management Corp purchased a new stake in PENN Entertainment in the 2nd quarter worth about $83,000. Finally, Quarry LP lifted its stake in PENN Entertainment by 76.7% in the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 3.8 %

Shares of NASDAQ:PENN opened at $18.34 on Wednesday. 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 market capitalization of $2.80 billion, a PE ratio of -2.26 and a beta of 2.09. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The business’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $18.29.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts predict that PENN Entertainment, Inc. will post -1.36 earnings per share for the current fiscal year.

Insider Activity at PENN Entertainment

In other news, Director David A. Handler bought 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought 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 directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PENN Entertainment news, Director David A. Handler acquired 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, with a total value of $175,100.00. Following the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment 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 completion of the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 79,200 shares of company stock valued at $1,450,548 over the last 90 days. Insiders own 2.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PENN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th. Wells Fargo & Company upped their price objective on PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Susquehanna decreased their target price on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday. Morgan Stanley lowered 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. Finally, Stifel Nicolaus raised their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.89.

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.