PENN Entertainment, Inc. $PENN Shares Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 6.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,186,487 shares of the company’s stock after buying an additional 69,674 shares during the quarter. PENN Entertainment accounts for about 1.6% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 9th biggest holding. Penn Capital Management Company LLC’s holdings in PENN Entertainment were worth $25,391,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PENN. Ieq Capital LLC acquired a new position in shares of PENN Entertainment in the 2nd quarter valued at $3,190,000. Bamco Inc. NY acquired a new stake in PENN Entertainment during the second quarter valued at $58,624,000. Whitebox Advisors LLC purchased a new position in PENN Entertainment in the first quarter valued at $737,000. Assenagon Asset Management S.A. increased its holdings in PENN Entertainment by 47.6% in the second quarter. Assenagon Asset Management S.A. now owns 180,310 shares of the company’s stock valued at $3,851,000 after buying an additional 58,174 shares in the last quarter. Finally, J. Goldman & Co LP acquired a new position in shares of PENN Entertainment in the second quarter worth about $3,138,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Trading Up 0.2%

Shares of PENN Entertainment stock opened at $17.36 on Friday. The firm has a market capitalization of $2.33 billion, a PE ratio of -2.73, a P/E/G ratio of 0.45 and a beta of 1.43. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36. The firm’s 50-day moving average price is $20.10 and its 200 day moving average price is $17.49. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PENN. Zacks Research cut PENN Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Capital One Financial upgraded PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research report on Thursday, July 23rd. Barclays boosted their price objective on PENN Entertainment from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group initiated coverage on shares of PENN Entertainment in a research note on Friday, June 26th. They issued a “buy” rating and a $26.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

About PENN Entertainment

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.