PENN Entertainment insiders placed $3.02 million worth of bullish bets

In the last year, numerous insiders have significantly increased their holdings of shares PENN Entertainment, Inc. (NASDAQ:PENN). This is encouraging because it shows that insiders are becoming more optimistic about the company’s prospects.

While insider transactions aren’t the most important thing when it comes to long-term investing, we think it’s foolish to ignore insider transactions entirely.

Check out our latest analysis for PENN Entertainment

The last 12 months of insider transactions at PENN Entertainment

The largest single purchase by an insider in the last twelve months was President Jay Snowden’s purchase of $999,000 worth of shares at a price of $18.44 per share. So it’s clear that an insider wanted to buy, even at a higher price than the current share price ($18.42). Their perspective may have changed since then, but it at least shows that they were optimistic back then. In our view, the price an insider pays for shares is very important. Generally, we are more positive about a stock if insiders have purchased shares at a price higher than the current price, as this suggests they viewed the stock as valuable even at a higher price.

PENN Entertainment insiders may have bought shares in the last year, but not sold any. You can see the insider transactions (by companies and individuals) over the last year in the table below. If you want to know exactly who sold how much and when, just click on the graphic below!

PENN Entertainment isn’t the only stock insiders are buying. So take a look free List of lesser-known companies with insider purchases.

PENN Entertainment Insiders recently bought shares

There has been significant insider buying at PENN Entertainment over the last three months. In total, insiders bought US$1.5m worth of shares during this time, and we didn’t record any sales. This shows some optimism about the future of the company.

Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. We typically like to see relatively high levels of insider ownership. It appears that PENN Entertainment insiders own 1.2% of the company, worth about US$32m. While this is a strong but not outstanding level of insider ownership, it is enough to suggest some alignment between management and smaller shareholders.

So what does this data say about PENN Entertainment Insiders?

It’s definitely positive to see recent insider buying. And the longer-term insider trading also gives us confidence. However, we note that the company did not make a profit in the last twelve months, which makes us cautious. Insiders likely see value in PENN Entertainment shares given these transactions (along with the notable insider ownership in the company). That’s why you should definitely take a look at it FREE Analyst forecast report for PENN Entertainment.

Naturally, You might find a fantastic investment if you look elsewhere. So take a look free List of interesting companies.

Insiders within the meaning of this article are persons who report their transactions to the relevant supervisory authority. We currently only consider open market transactions and private dispositions of direct holdings, but not derivative transactions or indirect holdings.

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This article from Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts using only an unbiased methodology and our articles are not intended as financial advice. It does not constitute a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our goal is to provide you with long-term focused analysis based on fundamental data. Note that our analysis may not reflect the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.