Quantbot Technologies LP Has $1.23 Million Stake in PENN Entertainment, Inc. $PENN

Key Points

• Quantbot Technologies LP increased its stake in PENN Entertainment, Inc. by 23.4%, now holding 75,106 shares valued at approximately $1.23 million.
• Insider activity shows Director David A. Handler purchased 20,000 shares at an average price of $16.96 each, increasing his ownership by 6.19%.
• PENN Entertainment reported earnings of $0.10 per share, surpassing expectations, and a revenue growth of 6.1% year-over-year.

Quantbot Technologies LP lifted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 23.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,106 shares of the company's stock after purchasing an additional 14,240 shares during the period. Quantbot Technologies LP's holdings in PENN Entertainment were worth $1,225,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock worth $43,000 after purchasing an additional 736 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of PENN Entertainment by 201.1% during the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock worth $44,000 after purchasing an additional 1,810 shares in the last quarter. Signaturefd LLC lifted its position in shares of PENN Entertainment by 1,371.6% during the first quarter. Signaturefd LLC now owns 7,211 shares of the company's stock worth $118,000 after purchasing an additional 6,721 shares in the last quarter. KBC Group NV lifted its position in shares of PENN Entertainment by 42.2% during the first quarter. KBC Group NV now owns 7,824 shares of the company's stock worth $128,000 after purchasing an additional 2,323 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of PENN Entertainment by 56.0% during the first quarter. Blue Trust Inc. now owns 8,839 shares of the company's stock worth $144,000 after purchasing an additional 3,174 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David A. Handler purchased 20,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $16.96 per share, with a total value of $339,200.00. Following the acquisition, the director directly owned 342,941 shares of the company's stock, valued at approximately $5,816,279.36. This represents a 6.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup restated an "outperform" rating on shares of PENN Entertainment in a report on Friday, August 8th. JMP Securities increased their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Wall Street Zen lowered shares of PENN Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Stifel Nicolaus increased their price objective on shares of PENN Entertainment from $17.00 to $19.00 and gave the company a "hold" rating in a report on Friday, July 11th. Finally, Susquehanna restated a "positive" rating and issued a $25.00 price objective (up from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.25.

PENN Entertainment Price Performance

Shares of PENN stock opened at $19.49 on Friday. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -34.80 and a beta of 1.60. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. The firm has a fifty day moving average of $17.97 and a 200-day moving average of $17.33.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.14. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business earned ($0.18) EPS. The firm's revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share 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.

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