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

Penn Capital Management Company LLC raised its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 893,055 shares of the company’s stock after acquiring an additional 39,324 shares during the quarter. Penn Capital Management Company LLC’s holdings in PENN Entertainment were worth $13,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. ING Groep NV acquired a new stake in shares of PENN Entertainment in the third quarter valued at approximately $5,790,000. Strs Ohio increased its stake in shares of PENN Entertainment by 365.5% in the third quarter. Strs Ohio now owns 252,705 shares of the company’s stock valued at $4,867,000 after purchasing an additional 198,417 shares during the period. Hill Path Capital LP increased its stake 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 during the period. Invenomic Capital Management LP increased its stake in shares of PENN Entertainment by 6.9% in the third quarter. Invenomic Capital Management LP now owns 1,569,939 shares of the company’s stock valued at $30,237,000 after purchasing an additional 101,028 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of PENN Entertainment by 330.0% in the fourth quarter. SG Americas Securities LLC now owns 149,710 shares of the company’s stock valued at $2,208,000 after purchasing an additional 114,892 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $17.06 on Wednesday. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $20.60. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -2.54, a PEG ratio of 0.55 and a beta of 1.43. The stock’s 50 day moving average price is $15.69 and its 200 day moving average price is $14.66. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that PENN Entertainment, Inc. will post 1 earnings per share for the current fiscal year.

Analyst Ratings Changes

PENN has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Benchmark raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, March 5th. Morgan Stanley boosted their target price on PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a report on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.29.

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.