Dynamic Technology Lab Private Ltd Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Dynamic Technology Lab Private Ltd purchased a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the third quarter, HoldingsChannel reports. The institutional investor purchased 90,070 shares of the company’s stock, valued at approximately $1,699,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in 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 shares of PENN Entertainment during the 1st quarter valued at $1,098,000. Cetera Advisors LLC grew its position 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 acquiring an additional 39,356 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in PENN Entertainment in the 2nd quarter worth about $6,363,000. Finally, GAMMA Investing LLC raised its position in PENN Entertainment by 233.6% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Trading Up 3.2 %

Shares of PENN stock opened at $21.17 on Tuesday. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day simple moving average of $19.49 and a two-hundred day simple moving average of $18.70. The company has a market cap of $3.23 billion, a P/E ratio of -5.96 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Research analysts forecast that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PENN. Mizuho lowered their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Finally, Macquarie raised their target price on PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. 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 data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and a consensus price target of $23.29.

Insider Activity

In other news, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Handler bought 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 3.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 79,200 shares of company stock worth $1,450,548. Company 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.