President of PENN Entertainment Jay Snowden Buys 3.2% More Shares

Potential PENN Entertainment, Inc. (NASDAQ:PENN) shareholders may wish to note that the President, Jay Snowden, recently bought US$497k worth of stock, paying US$14.32 for each share. Although the purchase only increased their holding by 3.2%, it is still a solid purchase in our view.

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The Last 12 Months Of Insider Transactions At PENN Entertainment

Notably, that recent purchase by President Jay Snowden was not the only time they bought PENN Entertainment shares this year. They previously made an even bigger purchase of US$500k worth of shares at a price of US$14.70 per share. That means that an insider was happy to buy shares at around the current price of US$15.49. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. In this case we're pleased to report that the insider purchases were made at close to current prices.

PENN Entertainment insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Check out our latest analysis for PENN Entertainment

PENN Entertainment is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.

Insider Ownership Of PENN Entertainment

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. PENN Entertainment insiders own about US$32m worth of shares. That equates to 1.5% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At PENN Entertainment Tell Us?

It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. Insiders likely see value in PENN Entertainment shares, given these transactions (along with notable insider ownership of the company). Of course, the future is what matters most. So if you are interested in PENN Entertainment, you should check out this free report on analyst forecasts for the company.

But note: PENN Entertainment may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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.