Empowered Funds LLC Invests $12.53 Million in PENN Entertainment, Inc. $PENN

Empowered Funds LLC acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 586,714 shares of the company’s stock, valued at approximately $12,532,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PENN. Quarry LP bought a new stake in PENN Entertainment in the fourth quarter worth approximately $36,000. IFP Advisors Inc boosted its holdings in shares of PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $47,000. Triumph Capital Management bought a new stake in shares of PENN Entertainment in the 3rd quarter valued at $54,000. Finally, Hantz Financial Services Inc. increased its stake in shares of PENN Entertainment by 385.1% in the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Up 0.2%

PENN Entertainment stock opened at $17.36 on Friday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -2.73, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. The firm’s fifty day moving average price is $20.10 and its two-hundred day moving average price is $17.49. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. 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 earnings results 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 negative net margin of 12.66% and a positive return on equity of 2.93%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that PENN Entertainment, Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of research reports. Stifel Nicolaus raised their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Bank of America upped their price objective on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Jefferies Financial Group restated a “hold” rating and issued a $22.00 target price on shares of PENN Entertainment in a research note on Friday, August 7th. Truist Financial boosted their target price on PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, Susquehanna upped their price target on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, July 1st. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PENN Entertainment has an average rating of “Moderate Buy” and an average price target 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.