Trexquant Investment LP Purchases Shares of 355,611 PENN Entertainment, Inc. $PENN

Key Points

• Trexquant Investment LP has acquired 355,611 shares of PENN Entertainment, Inc., valued at approximately $5.8 million, representing a 0.24% stake in the company.
• Various institutional investors have been increasing their holdings in PENN, with 91.69% of the stock now owned by such investors.
• PENN Entertainment reported a quarterly earnings per share of $0.10, exceeding analyst expectations, with revenue of $1.77 billion, a 6.1% increase year-over-year.

Trexquant Investment LP purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 355,611 shares of the company's stock, valued at approximately $5,800,000. Trexquant Investment LP owned approximately 0.24% of PENN Entertainment at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PENN. Price T Rowe Associates Inc. MD lifted its stake in shares of PENN Entertainment by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 103,589 shares of the company's stock valued at $2,054,000 after purchasing an additional 7,155 shares during the last quarter. Northern Trust Corp increased its holdings in PENN Entertainment by 19.4% during the 4th quarter. Northern Trust Corp now owns 1,043,383 shares of the company's stock worth $20,680,000 after purchasing an additional 169,518 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in shares of PENN Entertainment by 11.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 141,777 shares of the company's stock valued at $2,810,000 after acquiring an additional 14,549 shares during the period. Algert Global LLC purchased a new position in shares of PENN Entertainment in the 4th quarter valued at $850,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of PENN Entertainment by 233.1% in the 4th quarter. BNP Paribas Financial Markets now owns 54,645 shares of the company's stock valued at $1,083,000 after acquiring an additional 38,238 shares during the period. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PENN shares. Morgan Stanley restated a "sell" rating on shares of PENN Entertainment in a research note on Friday, July 11th. Citigroup reiterated an "outperform" rating on shares of PENN Entertainment in a research note on Friday, August 8th. Needham & Company LLC lowered their target price on PENN Entertainment from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Canaccord Genuity Group lowered their target price on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Stifel Nicolaus increased their price target on PENN Entertainment from $17.00 to $19.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.25.

PENN Entertainment Trading Up 0.2%

Shares of PENN Entertainment stock opened at $20.23 on Monday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -36.12 and a beta of 1.41. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50 day moving average of $18.28 and a 200 day moving average of $17.22.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.14. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted ($0.18) earnings per share. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler acquired 20,000 shares of PENN Entertainment stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the purchase, the director owned 342,941 shares in the company, valued at approximately $5,816,279.36. The trade was a 6.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.67% of the stock is currently owned by corporate insiders.

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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