PENN Entertainment, Inc. (NASDAQ:PENN) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 1,080.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,691 shares of the company's stock after acquiring an additional 122,364 shares during the quarter. Edgestream Partners L.P. owned 0.09% of PENN Entertainment worth $2,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PENN. DME Capital Management LP lifted its position in PENN Entertainment by 2.3% in the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company's stock valued at $113,934,000 after purchasing an additional 127,670 shares during the last quarter. Invesco Ltd. increased its stake in PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock worth $76,941,000 after acquiring an additional 848,066 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PENN Entertainment by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company's stock valued at $49,572,000 after acquiring an additional 152,791 shares during the period. Kettle Hill Capital Management LLC increased its position in PENN Entertainment by 43.1% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company's stock valued at $35,711,000 after buying an additional 542,585 shares in the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of PENN Entertainment in the fourth quarter worth about $34,994,000. Institutional investors own 91.69% of the company's stock.

Insider Transactions at PENN Entertainment

In related news, CEO Jay A. Snowden purchased 34,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the purchase, the chief executive officer directly owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler acquired 10,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $14.83 per share, for a total transaction of $148,300.00. Following the transaction, the director directly owned 322,941 shares of the company's stock, valued at approximately $4,789,215.03. This trade represents a 3.20% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upgraded shares of PENN Entertainment to an "outperform" rating in a report on Thursday, June 26th. Susquehanna reaffirmed a "positive" rating and issued a $25.00 target price (up previously from $24.00) on shares of PENN Entertainment in a research note on Tuesday, June 10th. Morgan Stanley reaffirmed a "sell" rating on shares of PENN Entertainment in a research report on Friday, July 11th. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research note on Monday, May 19th. Finally, JMP Securities raised shares of PENN Entertainment from a "market perform" rating to a "market outperform" rating and set a $24.00 price target on the stock in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, PENN Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $23.18.

PENN Entertainment Trading Up 1.6%

Shares of PENN stock traded up $0.28 on Monday, hitting $18.33. 2,593,131 shares of the stock traded hands, compared to its average volume of 3,823,474. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $2.77 billion, a PE ratio of -29.56 and a beta of 1.61. The firm's 50-day moving average price is $16.71 and its two-hundred day moving average price is $17.62. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted ($0.76) EPS. The company's revenue was up 4.1% on a year-over-year basis. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

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.