49,065 Shares in PENN Entertainment, Inc. $PENN Acquired by Whitebox Advisors LLC

Whitebox Advisors LLC acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 49,065 shares of the company’s stock, valued at approximately $737,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in PENN Entertainment in the fourth quarter worth $36,000. IFP Advisors Inc increased its holdings in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after acquiring an additional 1,196 shares in the last quarter. Modus Advisors LLC bought a new position in shares of PENN Entertainment during the fourth quarter valued at $47,000. Triumph Capital Management purchased a new position in shares of PENN Entertainment in the 3rd quarter worth about $54,000. Finally, Hantz Financial Services Inc. raised its position 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 worth $55,000 after purchasing an additional 2,954 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

PENN has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Citigroup raised shares of PENN Entertainment from a “hold” rating to an “overweight” rating in a report on Thursday. Capital One Financial upgraded shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday. Jefferies Financial Group reiterated a “hold” rating on shares of PENN Entertainment in a report on Thursday, July 2nd. Finally, Bank of America raised their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.78.

PENN Entertainment Price Performance

NASDAQ PENN opened at $20.48 on Monday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -3.05, a PEG ratio of 0.39 and a beta of 1.42. 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 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average price is $20.17 and its 200-day moving average price is $16.55.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.PENN Entertainment’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, equities analysts predict that PENN Entertainment, Inc. will post 1.39 earnings per share 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.