PENN Entertainment, Inc. $PENN Shares Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC raised its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 26.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 853,731 shares of the company’s stock after buying an additional 180,940 shares during the period. PENN Entertainment comprises 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 27th biggest position. Penn Capital Management Company LLC’s holdings in PENN Entertainment were worth $16,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PENN. Hill Path Capital LP purchased a new position in PENN Entertainment during the second quarter worth approximately $62,595,000. ING Groep NV acquired a new stake in PENN Entertainment in the 3rd quarter valued at $5,790,000. Arrowstreet Capital Limited Partnership purchased a new stake in PENN Entertainment in the 2nd quarter worth $40,214,000. Hudson Bay Capital Management LP raised its position in PENN Entertainment by 18.0% during the second quarter. Hudson Bay Capital Management LP now owns 2,029,843 shares of the company’s stock worth $36,273,000 after acquiring an additional 308,998 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of PENN Entertainment by 40.1% in the second quarter. Federated Hermes Inc. now owns 810,040 shares of the company’s stock valued at $14,475,000 after purchasing an additional 231,981 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PENN shares. Mizuho lifted their price objective on PENN Entertainment from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Citigroup lifted their price target on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Wells Fargo & Company upgraded PENN Entertainment from a “strong sell” rating to an “equal weight” rating and raised their price objective for the company from $15.00 to $16.00 in a report on Friday, February 27th. Canaccord Genuity Group dropped their target price on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Eight research 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.67.

PENN Entertainment Trading Down 0.1%

PENN opened at $13.97 on Wednesday. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $20.60. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $1.87 billion, a PE ratio of -2.32, a P/E/G ratio of 0.42 and a beta of 1.33. The business’s 50 day moving average price is $13.74 and its 200 day moving average price is $15.54.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.30. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. PENN Entertainment had a negative return on equity of 1.94% and a negative net margin of 12.11%.The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.44) EPS. As a group, equities research analysts expect that PENN Entertainment, Inc. will post -1.61 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.