Clearline Capital LP Sells 37,435 Shares of PENN Entertainment, Inc. $PENN

Clearline Capital LP lessened its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 16.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 187,594 shares of the company’s stock after selling 37,435 shares during the quarter. Clearline Capital LP owned approximately 0.14% of PENN Entertainment worth $2,767,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in PENN Entertainment in the 4th quarter worth about $36,000. IFP Advisors Inc lifted its holdings in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the period. Triumph Capital Management purchased a new stake in shares of PENN Entertainment in the 3rd quarter worth $54,000. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment in the 4th quarter worth $47,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of PENN Entertainment by 33.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after buying an additional 825 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 2.9%

PENN Entertainment stock opened at $21.23 on Thursday. The stock has a 50-day moving average of $17.60 and a two-hundred day moving average of $15.32. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $22.36. The stock has a market cap of $2.84 billion, a PE ratio of -3.16, a price-to-earnings-growth ratio of 0.70 and a beta of 1.44.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PENN. Barclays upped their target price on PENN Entertainment from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft upped their price objective on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 24th. Citigroup upped their price objective on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Mizuho upped their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.43.

PENN Entertainment 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.