UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 71,337 Shares of PENN Entertainment, Inc. $PENN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,881 shares of the company’s stock after selling 71,337 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PENN Entertainment were worth $4,996,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PENN. Ieq Capital LLC bought a new position in PENN Entertainment during the second quarter worth about $3,190,000. Bamco Inc. NY acquired a new stake in shares of PENN Entertainment in the 2nd quarter valued at approximately $58,624,000. Assenagon Asset Management S.A. boosted its stake in PENN Entertainment by 47.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 180,310 shares of the company’s stock worth $3,851,000 after acquiring an additional 58,174 shares during the last quarter. Whitebox Advisors LLC bought a new position in PENN Entertainment during the 1st quarter worth approximately $737,000. Finally, Bank of New York Mellon Corp acquired a new position in PENN Entertainment during the second quarter valued at approximately $16,714,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $16.95 on Wednesday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -2.67, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38. The stock’s 50-day moving average is $19.50 and its 200-day moving average is $17.73. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $22.36. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned ($0.12) earnings per share. PENN Entertainment’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts predict that PENN Entertainment, Inc. will post 1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PENN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a report on Wednesday, June 24th. Barclays boosted their price target on shares of PENN Entertainment from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Morgan Stanley reaffirmed an “underperform” rating on shares of PENN Entertainment in a research note on Wednesday, August 12th. Truist Financial lifted their target price on PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Citigroup reissued a “market outperform” rating on shares of PENN Entertainment in a research note on Tuesday, August 18th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

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.