PENN Entertainment, Inc. $PENN Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 19.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,644,688 shares of the company’s stock after selling 385,155 shares during the quarter. Hudson Bay Capital Management LP’s holdings in PENN Entertainment were worth $31,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new stake in PENN Entertainment during the 1st quarter worth about $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PENN Entertainment by 30.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 344,565 shares of the company’s stock worth $5,620,000 after acquiring an additional 79,978 shares during the period. PNC Financial Services Group Inc. raised its position in PENN Entertainment by 20.9% during the second quarter. PNC Financial Services Group Inc. now owns 8,358 shares of the company’s stock valued at $149,000 after acquiring an additional 1,446 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in PENN Entertainment by 3.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 57,972 shares of the company’s stock valued at $1,036,000 after acquiring an additional 1,839 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in PENN Entertainment by 4.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,355 shares of the company’s stock valued at $668,000 after acquiring an additional 1,549 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Trading Down 0.9%

Shares of PENN Entertainment stock opened at $13.84 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.92. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $20.60. The firm has a market capitalization of $1.85 billion, a PE ratio of -2.30, a P/E/G ratio of 0.45 and a beta of 1.33. The firm’s 50-day moving average price is $13.74 and its 200 day moving average price is $15.52.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 26th. The company reported $0.07 EPS for the quarter, beating 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 business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. On average, sell-side analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on PENN. Morgan Stanley lowered their price objective on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 16th. Benchmark upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, March 5th. Citigroup lifted their price objective on shares of PENN Entertainment from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of PENN Entertainment in a research report on Wednesday, December 24th. 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 investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and a consensus target price of $19.67.

PENN Entertainment 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.