PENN Entertainment, Inc. $PENN Stock Position Boosted by Versor Investments LP

Key Points

• Versor Investments LP significantly increased its stake in PENN Entertainment by 292.8% in Q1, owning 81,300 shares worth $1.33 million after purchasing additional shares during the period.
• INSIDER trading activity included CEO Jay A. Snowden and Director David A. Handler both acquiring shares, with Snowden's purchase representing a 3.24% increase in his ownership.
• PENN Entertainment's recent earnings report beat expectations, with a reported $0.10 EPS compared to consensus estimates of ($0.04), and revenue increased 6.1% year-over-year.

Versor Investments LP lifted its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 292.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,300 shares of the company's stock after purchasing an additional 60,600 shares during the quarter. Versor Investments LP owned approximately 0.05% of PENN Entertainment worth $1,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PENN. GAMMA Investing LLC increased its position in PENN Entertainment by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock valued at $43,000 after acquiring an additional 736 shares during the period. Byrne Asset Management LLC raised its position in PENN Entertainment by 201.1% in the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock worth $44,000 after acquiring an additional 1,810 shares in the last quarter. Signaturefd LLC boosted its holdings in 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 buying an additional 6,721 shares in the last quarter. KBC Group NV increased its stake in PENN Entertainment by 42.2% in the 1st quarter. KBC Group NV now owns 7,824 shares of the company's stock valued at $128,000 after purchasing an additional 2,323 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of PENN Entertainment by 56.0% in the 1st quarter. Blue Trust Inc. now owns 8,839 shares of the company's stock worth $144,000 after buying an additional 3,174 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Performance

PENN traded up $0.15 on Wednesday, hitting $18.67. 3,542,922 shares of the company's stock were exchanged, compared to its average volume of 4,004,481. The firm has a market cap of $2.73 billion, a PE ratio of -33.34 and a beta of 1.60. The stock has a fifty day moving average of $17.84 and a two-hundred day moving average of $17.35. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39.

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, 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 business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted ($0.18) EPS. The business's revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of analyst reports. Wall Street Zen cut PENN Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Needham & Company LLC cut their target price on PENN Entertainment from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Morgan Stanley reissued a "sell" rating on shares of PENN Entertainment in a research report on Friday, July 11th. Barclays dropped their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Finally, Benchmark restated a "hold" rating on shares of PENN Entertainment in a research note on Monday, May 19th. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, PENN Entertainment has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Insider Transactions at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 34,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the transaction, the chief executive officer directly owned 1,082,625 shares in the company, valued at $15,914,587.50. This trade represents a 3.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Handler bought 20,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $16.96 per share, with a total value of $339,200.00. Following the transaction, the director owned 342,941 shares in the company, valued at $5,816,279.36. The trade was a 6.19% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 64,000 shares of company stock worth $987,300. Corporate insiders own 2.67% of the company's stock.

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.