Versor Investments LP Invests $571,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

Versor Investments LP bought a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 30,300 shares of the company’s stock, valued at approximately $571,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PENN. Driehaus Capital Management LLC acquired a new stake in PENN Entertainment in the second quarter valued at approximately $4,535,000. Virtu Financial LLC acquired a new stake in PENN Entertainment during the 1st quarter valued at $1,098,000. Cetera Advisors LLC increased its stake in PENN Entertainment by 184.3% during the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after buying an additional 39,356 shares during the period. Axxcess Wealth Management LLC lifted its holdings in PENN Entertainment by 300.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 36,975 shares of the company’s stock worth $673,000 after buying an additional 27,743 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in PENN Entertainment in the 2nd quarter valued at about $6,363,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PENN has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Mizuho dropped 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. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Truist Financial decreased their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America began coverage on shares of PENN Entertainment in a report on Wednesday. They issued a “neutral” rating and a $22.00 price target on the stock. 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 company’s stock. According to MarketBeat, PENN Entertainment has an average rating of “Hold” and an average target price of $23.29.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $21.23 on Thursday. The stock has a market capitalization of $3.24 billion, a P/E ratio of -6.05 and a beta of 2.09. The firm’s 50-day moving average price is $19.12 and its two-hundred day moving average price is $18.40. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post -1.5 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In other news, Director David A. Handler acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of the business’s stock in a transaction 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 purchase, 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. Over the last quarter, insiders bought 79,200 shares of company stock worth $1,450,548. Insiders own 2.19% of the company’s stock.

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.