Empowered Funds LLC Trims Position in PENN Entertainment, Inc. $PENN

Empowered Funds LLC lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 489,760 shares of the company’s stock after selling 34,789 shares during the quarter. Empowered Funds LLC owned about 0.37% of PENN Entertainment worth $7,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $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 acquiring an additional 1,196 shares during the last quarter. Triumph Capital Management purchased a new position in shares of PENN Entertainment during the 3rd quarter worth about $54,000. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the 4th quarter worth about $47,000. Finally, Hantz Financial Services Inc. grew its holdings in PENN Entertainment by 385.1% during the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after purchasing an additional 2,954 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Price Performance

NASDAQ PENN opened at $20.53 on Friday. The firm’s fifty day simple moving average is $20.61 and its two-hundred day simple moving average is $16.77. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $22.36. The firm has a market capitalization of $2.75 billion, a P/E ratio of -3.06, a P/E/G ratio of 0.39 and a beta of 1.42.

Analyst Upgrades and Downgrades

PENN has been the topic of several recent analyst reports. Zacks Research upgraded PENN Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. The Goldman Sachs Group began coverage on PENN Entertainment in a research report on Friday, June 26th. They set a “buy” rating and a $26.00 target price for the company. Capital One Financial raised shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research report on Thursday, July 23rd. Barclays upped their price objective on PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company reduced their target price on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PENN Entertainment has an average rating of “Moderate Buy” and an average target price of $22.78.

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.