Fairfax Financial Holdings Ltd. Can Invests $981,000 in PENN Entertainment, Inc. $PENN

Fairfax Financial Holdings Ltd. Can purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,900 shares of the company’s stock, valued at approximately $981,000. PENN Entertainment comprises 0.1% of Fairfax Financial Holdings Ltd. Can’s investment portfolio, making the stock its 25th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in PENN Entertainment by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 70,894 shares of the company’s stock worth $1,156,000 after acquiring an additional 6,101 shares in the last quarter. Deutsche Bank AG grew its stake in PENN Entertainment by 4.7% in the first quarter. Deutsche Bank AG now owns 58,125 shares of the company’s stock worth $948,000 after purchasing an additional 2,584 shares in the last quarter. Swiss National Bank increased its holdings in PENN Entertainment by 4.0% during the 1st quarter. Swiss National Bank now owns 280,084 shares of the company’s stock worth $4,568,000 after purchasing an additional 10,800 shares during the period. Invesco Ltd. raised its position in PENN Entertainment by 54.6% during the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock valued at $97,905,000 after purchasing an additional 2,120,740 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of PENN Entertainment by 55.8% in the 1st quarter. Virtu Financial LLC now owns 21,400 shares of the company’s stock worth $349,000 after buying an additional 7,662 shares during the period. Institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gupta Vimla Black sold 7,987 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $14.51, for a total transaction of $115,891.37. Following the transaction, the director directly owned 25,000 shares in the company, valued at $362,750. The trade was a 24.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Felicia Hendrix bought 7,315 shares of PENN Entertainment stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $13.79 per share, for a total transaction of $100,873.85. Following the completion of the transaction, the chief financial officer directly owned 119,448 shares in the company, valued at $1,647,187.92. This represents a 6.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 62,015 shares of company stock valued at $882,778. Company insiders own 2.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PENN shares. Citizens Jmp cut their price target on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 7th. Citigroup reissued a “market outperform” rating on shares of PENN Entertainment in a research report on Monday, December 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Friday, November 7th. Finally, Stifel Nicolaus upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 7th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and a consensus target price of $21.56.

PENN Entertainment Stock Performance

PENN stock opened at $13.82 on Monday. PENN Entertainment, Inc. has a one year low of $13.24 and a one year high of $23.08. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -2.18 and a beta of 1.40. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day simple moving average of $16.15 and a two-hundred day simple moving average of $17.35.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.12). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative return on equity of 4.59% and a negative net margin of 13.24%.The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) EPS. On average, equities analysts forecast that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal 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.