Natixis Advisors LLC Has $4.01 Million Stake in PENN Entertainment, Inc. $PENN

Natixis Advisors LLC decreased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,689 shares of the company’s stock after selling 73,474 shares during the period. Natixis Advisors LLC owned about 0.20% of PENN Entertainment worth $4,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Shapiro Capital Management LLC increased 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 purchasing an additional 425,190 shares in the last quarter. Hill Path Capital LP increased its holdings in shares of PENN Entertainment by 64.4% in the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after purchasing an additional 2,257,000 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of PENN Entertainment by 74.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after purchasing an additional 1,679,953 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of PENN Entertainment by 0.6% in the third quarter. Earnest Partners LLC now owns 2,961,273 shares of the company’s stock valued at $57,034,000 after purchasing an additional 18,099 shares in the last quarter. Finally, Armistice Capital LLC increased its holdings in shares of PENN Entertainment by 48.8% in the third quarter. Armistice Capital LLC now owns 2,103,666 shares of the company’s stock valued at $40,517,000 after purchasing an additional 690,078 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PENN. Morgan Stanley raised their price target on shares of PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Barclays raised their price target on shares of PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Benchmark raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, March 5th. Citigroup raised their price target 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. Finally, Stifel Nicolaus raised their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.29.

PENN Entertainment Stock Up 6.0%

Shares of PENN stock opened at $20.32 on Wednesday. The firm has a market capitalization of $2.72 billion, a P/E ratio of -3.02, a PEG ratio of 0.62 and a beta of 1.44. The firm’s fifty day moving average price is $16.78 and its two-hundred day moving average price is $15.01. PENN Entertainment, Inc. has a 1 year low of $11.65 and a 1 year high of $20.60. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. PENN Entertainment’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. On average, equities analysts predict that PENN Entertainment, Inc. will post 1.01 EPS for the current fiscal year.

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.