PENN Entertainment Independent Chairman Acquires 18% More Stock

PENN Entertainment, Inc. (NASDAQ:PENN) shareholders (or potential shareholders) will be happy to see that the Independent Chairman, David Handler, recently bought a whopping US$624k worth of stock, at a price of US$15.61. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 18%.

View our latest analysis for PENN Entertainment

PENN Entertainment Insider Transactions Over The Last Year

The Independent Lead Director, Barbara Z. Kohn, made the biggest insider sale in the last 12 months. That single transaction was for US$810k worth of shares at a price of US$26.62 each. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$16.24. So it is hard to draw any strong conclusion from it. The only individual insider seller over the last year was Barbara Z. Kohn.

In the last twelve months insiders purchased 91.72k shares for US$1.7m. On the other hand they divested 30.45k shares, for US$810k. Overall, PENN Entertainment insiders were net buyers during the last year. The average buy price was around US$18.29. These transactions suggest that insiders have considered the current price attractive. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership Of PENN Entertainment

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that PENN Entertainment insiders own 1.0% of the company, worth about US$24m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At PENN Entertainment Tell Us?

It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Given that insiders also own a fair bit of PENN Entertainment we think they are probably pretty confident of a bright future. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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