The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PENN Entertainment Inc shares valued at $316,850 were purchased by HANDLER DAVID A on May 07 ’24. At $15.84 per share, HANDLER DAVID A acquired 20,000 shares. The insider’s holdings grew to 20,000 shares worth approximately $0.32 million following the completion of this transaction.
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Also, HANDLER DAVID A purchased 20,000 shares, netting a total of over 307,386 in proceeds. Following the buying of shares at $15.37 each, the insider now holds 243,450 shares.
Before that, Hendrix Felicia had added 16,157 shares to its account. In a trade valued at $249,997, the EVP and CFO bought PENN Entertainment Inc shares for $15.47 each. Upon closing the transaction, the insider’s holdings increased to 16,157 shares, worth approximately $1.1 million.
As published in their initiating research note from Raymond James on May 21, 2024, PENN Entertainment Inc [PENN] has been an Outperform and the price target has been revised to $20. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of April 23, 2024, Truist has increased its “Hold” rating to a “Buy” for PENN. Earlier on April 16, 2024, The Benchmark Company initiated its rating. Their recommendation was “a Hold” for PENN stock.
Analyzing PENN Stock Performance
During the last five days, there has been a surge of approximately 0.88%. Over the course of the year, PENN Entertainment Inc shares have dropped approximately -38.36%. Shares of the company reached a 52-week high of $26.53 on 01/02/24 and a 52-week low of $13.50 on 05/02/24. A 50-day SMA is recorded $16.91, while a 200-day SMA reached $21.17. Nevertheless, trading volume fell to 3.58 million shares from 4.34 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 15.74, which, if violated, would cause prices to drop to 15.45. In the upper region, resistance lies at 16.50. The next price resistance is at 16.97. RSI (Relative Strength Index) is 46.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.26, which suggests the price will decrease in the coming days. Percent R is at 45.58%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
