44,862 Shares in PENN Entertainment, Inc. $PENN Acquired by Jupiter Topco LLC

Jupiter Topco LLC bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 44,862 shares of the company’s stock, valued at approximately $959,000.

Several other large investors have also recently modified their holdings of PENN. BlackRock Inc. acquired a new position in shares of PENN Entertainment during the second quarter worth $410,579,000. AQR Capital Management LLC grew its stake in shares of PENN Entertainment by 824.3% in the fourth quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock worth $51,341,000 after purchasing an additional 3,121,051 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in PENN Entertainment by 74.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after purchasing an additional 1,679,953 shares during the period. Bank of America Corp DE increased its holdings in PENN Entertainment by 57.9% in the first quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock valued at $65,400,000 after purchasing an additional 1,595,502 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in PENN Entertainment during the 2nd quarter worth $21,460,000. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Susquehanna upped their price target on PENN Entertainment from $24.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, July 1st. Wells Fargo & Company cut their price objective on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. Zacks Research cut PENN Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Bank of America increased their target price on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Stifel Nicolaus raised their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $17.07 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. The business has a 50-day moving average price of $19.69 and a two-hundred day moving average price of $17.62. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. The company has a market cap of $2.29 billion, a P/E ratio of -2.68, a PEG ratio of 0.44 and a beta of 1.38.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned ($0.12) EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that PENN Entertainment, Inc. will post 1.19 EPS for the current year.

PENN Entertainment Company Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.