Quantbot Technologies LP Sells 89,233 Shares of PENN Entertainment, Inc. $PENN

Quantbot Technologies LP lessened its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 66.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,780 shares of the company’s stock after selling 89,233 shares during the quarter. Quantbot Technologies LP’s holdings in PENN Entertainment were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hill Path Capital LP bought a new stake in PENN Entertainment in the 2nd quarter valued at $62,595,000. Arrowstreet Capital Limited Partnership bought a new position in shares of PENN Entertainment during the 2nd quarter worth about $40,214,000. Norges Bank acquired a new stake in shares of PENN Entertainment during the 2nd quarter valued at about $39,737,000. Hennessy Advisors Inc. bought a new stake in PENN Entertainment in the third quarter valued at about $40,537,000. Finally, Hudson Bay Capital Management LP increased its stake in PENN Entertainment by 18.0% in the second quarter. Hudson Bay Capital Management LP now owns 2,029,843 shares of the company’s stock valued at $36,273,000 after acquiring an additional 308,998 shares during the period. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Down 5.4%

NASDAQ PENN opened at $14.64 on Friday. The stock’s 50 day simple moving average is $13.81 and its 200 day simple moving average is $15.84. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $20.60. The firm has a market cap of $1.96 billion, a PE ratio of -2.43, a price-to-earnings-growth ratio of 0.47 and a beta of 1.33. The company has a debt-to-equity ratio of 3.92, a current ratio of 0.79 and a quick ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.30. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. PENN Entertainment had a negative return on equity of 1.94% and a negative net margin of 12.11%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PENN shares. Susquehanna cut their price target on shares of PENN Entertainment from $20.00 to $17.00 and set a “positive” rating for the company in a research note on Wednesday, February 11th. Stifel Nicolaus upgraded PENN Entertainment from a “hold” rating to a “buy” rating and raised their target price for the stock from $19.00 to $21.00 in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday, December 29th. Citizens Jmp cut their price objective on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, November 7th. Finally, Citigroup upped their target price on shares of PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PENN Entertainment currently has an average rating of “Hold” and an average target price of $19.47.

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.