Susquehanna Fundamental Investments LLC Buys New Stake in PENN Entertainment, Inc. $PENN

Susquehanna Fundamental Investments LLC purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 38,892 shares of the company’s stock, valued at approximately $831,000.

Several other large investors also recently bought and sold shares of PENN. Quarry LP acquired a new stake in shares of PENN Entertainment during the fourth quarter worth about $36,000. IFP Advisors Inc increased its position 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 buying an additional 1,196 shares during the period. Modus Advisors LLC purchased a new stake in PENN Entertainment in the fourth quarter valued at approximately $47,000. Triumph Capital Management purchased a new stake in PENN Entertainment in the third quarter valued at approximately $54,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of PENN Entertainment by 385.1% in the fourth 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 during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PENN shares. Zacks Research cut shares of PENN Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Susquehanna increased their price target on shares of PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, July 1st. Benchmark lifted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 7th. The Goldman Sachs Group began coverage on shares of PENN Entertainment in a report on Friday, June 26th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Morgan Stanley reiterated an “underperform” rating on shares of PENN Entertainment in a research note on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PENN Entertainment has a consensus rating of “Moderate Buy” and an average target price of $23.53.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $16.89 on Thursday. The firm’s fifty day moving average price is $19.86 and its 200 day moving average price is $17.59. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -2.66, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned ($0.12) EPS. PENN Entertainment’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that PENN Entertainment, Inc. will post 1.19 EPS for the current year.

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.