Maverick Capital Ltd. Buys New Position in PENN Entertainment, Inc. $PENN

Maverick Capital Ltd. bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 63,799 shares of the company’s stock, valued at approximately $959,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PENN. Quarry LP bought a new position in shares of PENN Entertainment in the fourth quarter valued at $36,000. IFP Advisors Inc boosted its stake in shares of 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 acquiring an additional 1,196 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of PENN Entertainment in the 4th quarter worth $47,000. Triumph Capital Management acquired a new stake in shares of PENN Entertainment during the third quarter worth $54,000. Finally, Hantz Financial Services Inc. raised its position in shares of PENN Entertainment by 385.1% during 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 period. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Down 0.5%

PENN Entertainment stock opened at $21.08 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. The firm’s fifty day simple moving average is $20.36 and its 200-day simple moving average is $16.65. The company has a market capitalization of $2.82 billion, a P/E ratio of -3.14, a P/E/G ratio of 0.40 and a beta of 1.42.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Citizens Jmp increased their price target on PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a research report on Thursday, July 16th. Mizuho raised their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Stifel Nicolaus lifted their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Wells Fargo & Company cut their price target on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Finally, Truist Financial upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.78.

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.