PENN Entertainment, Inc. $PENN Position Boosted by Penn Capital Management Company LLC

Penn Capital Management Company LLC lifted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 893,055 shares of the company’s stock after purchasing an additional 39,324 shares during the period. Penn Capital Management Company LLC owned about 0.67% of PENN Entertainment worth $13,205,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PENN. Caxton Associates LLP bought a new position in shares of PENN Entertainment during the first quarter worth about $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of PENN Entertainment by 30.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 344,565 shares of the company’s stock worth $5,620,000 after purchasing an additional 79,978 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of PENN Entertainment by 6.7% during the second quarter. Russell Investments Group Ltd. now owns 64,280 shares of the company’s stock worth $1,150,000 after purchasing an additional 4,011 shares during the last quarter. First Trust Advisors LP lifted its position in shares of PENN Entertainment by 169.6% during the second quarter. First Trust Advisors LP now owns 94,575 shares of the company’s stock worth $1,690,000 after purchasing an additional 59,489 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of PENN Entertainment by 80.2% during the second quarter. Marshall Wace LLP now owns 386,871 shares of the company’s stock worth $6,913,000 after purchasing an additional 172,158 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PENN shares. Benchmark raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, March 5th. Mizuho raised their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Canaccord Genuity Group cut their target price on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Citigroup raised their target price on shares of PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, Wells Fargo & Company raised their target price on shares of PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PENN Entertainment currently has an average rating of “Hold” and an average price target of $20.29.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $17.06 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. The firm’s 50-day moving average price is $15.69 and its two-hundred day moving average price is $14.66. PENN Entertainment, Inc. has a 52-week low of $11.65 and a 52-week high of $20.60. The stock has a market capitalization of $2.28 billion, a P/E ratio of -2.54, a P/E/G ratio of 0.55 and a beta of 1.43.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $0.68 earnings per share. PENN Entertainment’s revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post 1 earnings per share for the current year.

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.