PENN Entertainment, Inc. $PENN Shares Sold by CastleKnight Management LP

CastleKnight Management LP trimmed its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 28.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,700 shares of the company’s stock after selling 73,300 shares during the period. CastleKnight Management LP owned about 0.14% of PENN Entertainment worth $2,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in PENN Entertainment during the fourth quarter worth about $36,000. IFP Advisors Inc grew its holdings in PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares during the period. Modus Advisors LLC acquired a new stake in PENN Entertainment during the fourth quarter worth about $47,000. Triumph Capital Management acquired a new stake in PENN Entertainment during the third quarter worth about $54,000. Finally, Hantz Financial Services Inc. grew its holdings in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after acquiring an additional 2,954 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $21.23 on Thursday. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day moving average price is $17.60 and its 200-day moving average price is $15.32. The firm has a market capitalization of $2.84 billion, a PE ratio of -3.16, a P/E/G ratio of 0.70 and a beta of 1.44. PENN Entertainment, Inc. has a 1 year low of $11.65 and a 1 year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts expect that PENN Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho raised their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley raised their price objective on PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Benchmark raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, March 5th. Finally, Stifel Nicolaus raised their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 12th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.43.

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.