Kettle Hill Capital Management LLC Has $26.16 Million Holdings in PENN Entertainment, Inc. $PENN

Kettle Hill Capital Management LLC lifted its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 129.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,773,390 shares of the company’s stock after buying an additional 1,000,830 shares during the period. PENN Entertainment accounts for 5.8% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 4th biggest position. Kettle Hill Capital Management LLC’s holdings in PENN Entertainment were worth $26,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Shapiro Capital Management LLC raised its holdings in shares of PENN Entertainment by 6.6% in the third quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock valued at $132,062,000 after acquiring an additional 425,190 shares in the last quarter. Hill Path Capital LP raised its holdings in PENN Entertainment by 64.4% in the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock worth $110,934,000 after purchasing an additional 2,257,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised 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 worth $75,697,000 after purchasing an additional 1,679,953 shares in the last quarter. Earnest Partners LLC raised its holdings in PENN Entertainment by 0.6% in the third quarter. Earnest Partners LLC now owns 2,961,273 shares of the company’s stock worth $57,034,000 after purchasing an additional 18,099 shares in the last quarter. Finally, Armistice Capital LLC raised its holdings in PENN Entertainment by 48.8% in the third quarter. Armistice Capital LLC now owns 2,103,666 shares of the company’s stock worth $40,517,000 after purchasing an additional 690,078 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on PENN shares. Stifel Nicolaus boosted their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley boosted their target price on shares of PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Mizuho boosted their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of PENN Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Barclays boosted their target price on shares of PENN Entertainment from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.43.

PENN Entertainment Price Performance

Shares of PENN stock opened at $21.84 on Tuesday. PENN Entertainment, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $22.17. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -3.25, a PEG ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $15.22.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that PENN Entertainment, Inc. will post 1.01 earnings per share for the current fiscal 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.