Counterpoint Mutual Funds LLC Acquires 25,596 Shares of PENN Entertainment, Inc. $PENN

Counterpoint Mutual Funds LLC boosted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 74.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 59,818 shares of the company’s stock after acquiring an additional 25,596 shares during the period. Counterpoint Mutual Funds LLC’s holdings in PENN Entertainment were worth $899,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PENN shares. JPMorgan Chase & Co. lifted their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Jefferies Financial Group reissued a “hold” rating on shares of PENN Entertainment in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 24th. Stifel Nicolaus lifted their price objective on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Finally, Mizuho upped their price objective on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Ten 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 company. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $22.01 on Friday. The company’s fifty day simple moving average is $19.00 and its 200-day simple moving average is $15.90. The stock has a market capitalization of $2.95 billion, a PE ratio of -3.28, a P/E/G ratio of 0.70 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.

PENN Entertainment (NASDAQ:PENN) last posted 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 firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. As a group, equities analysts anticipate that PENN Entertainment, Inc. will post 1.02 earnings per share for the current year.

PENN Entertainment Company 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.