Virtu Financial LLC Makes New $1.10 Million Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Virtu Financial LLC purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 60,282 shares of the company’s stock, valued at approximately $1,098,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $32,000. Lindbrook Capital LLC grew its position in PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after acquiring an additional 553 shares during the period. Neo Ivy Capital Management bought a new stake in PENN Entertainment in the fourth quarter valued at $40,000. Rakuten Securities Inc. bought a new stake in PENN Entertainment in the fourth quarter valued at $78,000. Finally, TFO Wealth Partners LLC grew its position in PENN Entertainment by 123,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock valued at $96,000 after acquiring an additional 3,691 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David A. Handler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director David A. Handler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Handler purchased 40,000 shares of PENN Entertainment stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the completion of the transaction, the director now directly owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The disclosure for this purchase can be found here. Insiders acquired 76,157 shares of company stock worth $1,154,949 over the last ninety days. 2.19% of the stock is currently owned by corporate insiders.

PENN Entertainment Stock Down 5.5 %

Shares of PENN Entertainment stock opened at $17.87 on Friday. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $29.38. The business has a 50-day moving average of $18.47 and a two-hundred day moving average of $18.50. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. Analysts anticipate that PENN Entertainment, Inc. will post -1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PENN. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Wells Fargo & Company reduced their price objective on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. Susquehanna reissued a “positive” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, June 21st. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd. Finally, Morgan Stanley upped their price target on PENN Entertainment from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and an average target price of $25.03.

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.