Selling Buzz: PENN Entertainment Inc. [PENN] Director Reibstein Saul sells 5,086 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PENN Entertainment Inc. shares valued at $193,421 were sold by Reibstein Saul on Aug 15. At $38.03 per share, Reibstein Saul sold 5,086 shares. The insider’s holdings dropped to 34,663 shares worth approximately $1.01 million following the completion of this transaction.


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Also, SCACCETTI JANE purchased 1,975 shares, netting a total of over 98,167 in proceeds. Following the buying of shares at $49.70 each, the insider now holds 50,569 shares.

Before that, Snowden Jay A had sold 148,387 shares from its account. In a trade valued at $11,460,568, the President and CEO traded PENN Entertainment Inc. shares for $77.23 each. Upon closing the transaction, the insider’s holdings decreased to 148,387 shares, worth approximately $15.46 million.

As published in their initiating research note from JMP Securities on June 28, 2022, PENN Entertainment Inc. [PENN] has been a Mkt outperform and the price target has been revised to $52. This represents a 43.96% premium over Wednesday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid May. As of April 25, 2022, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for PENN. Earlier on February 09, 2022, Susquehanna upgraded its rating. Their new recommendation was “a Positive” for PENN stock which previously was a “a Neutral”.

Analyzing PENN’s Price Performance

On Wednesday, PENN Entertainment Inc. [NASDAQ: PENN] plunged -4.74% to $29.14. The stock’s lowest price that day was $29.12, but it reached a high of $30.79 in the same session. During the last five days, there has been a drop of approximately -5.30%. Over the course of the year, PENN Entertainment Inc. shares have dropped approximately -43.80%. Shares of the company reached a 52-week high of $53.36 on 01/03/22 and a 52-week low of $26.46 on 06/17/22. A 50-day SMA is recorded $33.24, while a 200-day SMA reached $38.73. Nevertheless, trading volume fell to 3.18 million shares from 3.45 million shares the previous day.

Support And Resistance Levels for PENN Entertainment Inc. (PENN)

According to the 24-hour chart, there is a support level at 28.58, which, if violated, would cause prices to drop to 28.01. In the upper region, resistance lies at 30.25. The next price resistance is at 31.35. RSI (Relative Strength Index) is 35.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 99.54%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is PENN Entertainment Inc. subject to short interest?

Stocks of PENN Entertainment Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.54 million shares to 9.44 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.9 million shares. A jump of 16.31% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.37 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.37.

Which companies own the most shares of PENN Entertainment Inc. (PENN)?

According to Fidelity Management & Research Co filings, the company currently owns 18,015,127 shares, which is about 11.36% of the total PENN shares outstanding. The investor’s shares have appreciated by 565,893 from its previous 13-F filing of 17449234.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $538,462,570. BAMCO, Inc. reduced a -18.10% interest valued at $271.52 million while BlackRock Fund Advisors sold a -464,644 stake. A total of -199,657 shares of PENN Entertainment Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 3,500,000 by HG Vora Capital Management LLC. In its current portfolio, Geode Capital Management LLC holds 3,403,125 shares valued at $106.28 million.

In terms of PENN Entertainment Inc. share price expectations, FactSet research, analysts set an average price target of $50.88 in the next 12 months, up nearly 56.91% from the previous closing price of $30.59. Analysts anticipate PENN Entertainment Inc. stock to reach $80.00 by 2022, with the lowest price target being $36.00. In spite of this, 18 analysts ranked PENN Entertainment Inc. stock as an Overweight at the end of 2022. On February 04, 2022, Loop Capital assigned a price target of “a Hold” to the stock and upgraded coverage with a $49.

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