MYDA Advisors LLC Makes New Investment in PENN Entertainment, Inc. $PENN

MYDA Advisors LLC bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $369,000.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in PENN Entertainment during the 4th quarter worth about $36,000. IFP Advisors Inc increased its holdings in 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 purchasing an additional 1,196 shares in the last quarter. Triumph Capital Management bought a new position in PENN Entertainment during the 3rd quarter worth about $54,000. Modus Advisors LLC bought a new position in PENN Entertainment during the 4th quarter worth about $47,000. Finally, Jones Financial Companies Lllp increased its holdings in PENN Entertainment by 33.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after purchasing an additional 825 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $21.68 on Monday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -3.23, a PEG ratio of 0.70 and a beta of 1.45. The business has a 50-day moving average of $17.18 and a 200-day moving average of $15.17. 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, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $21.94.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, beating 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 company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company earned $0.68 EPS. PENN Entertainment’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PENN has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on PENN Entertainment from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Benchmark upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Thursday, March 5th. Mizuho raised their price objective on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays raised their price objective on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.