08:17 AM EDT, 09/10/2024 (MT Newswires) -- Penn Entertainment ( PENN ) was the stock pick of the week from Smart Insider after the company's Chief Executive Jay Snowden bought $1 million worth of stock at $18.44 per share on Sept. 3.

Snowden increased his holding in the company by 4% to 853,045 shares with his latest purchase, Smart Insider said in a note to clients.

The latest purchase is the CEO's sixth purchase. Snowden last bought the stock through a subscription in May 2020 for $18 apiece, according to the note.

Smart Insider said it ranked the stock +N, or notable and positive signal, on June 3 based on Chair David Handler and Chief Financial Officer Felicia Hendrix's purchases at around $15.25 per share.

"The stock has moved a little higher, and seeing the CEO make his largest purchase is encouraging," Smart Insider said.

Smart Insider upgraded the stock to +1 for strong positive signal.

Price: 17.82, Change: +0.15, Percent Change: +0.85