Versor Investments LP boosted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN – Free Report) by 179.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,046 shares of the company’s stock after purchasing an additional 52,000 shares during the quarter. Versor Investments LP’s holdings in PENN Entertainment were worth $1,195,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new position in PENN Entertainment in the 4th quarter worth approximately $6,376,000. Acorn Financial Advisory Services Inc. ADV boosted its stake in PENN Entertainment by 2.5% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 75,044 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,866 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in PENN Entertainment by 40.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 156,748 shares of the company’s stock worth $2,312,000 after purchasing an additional 44,797 shares during the period. Sanctuary Advisors LLC boosted its stake in PENN Entertainment by 12.4% in the 4th quarter. Sanctuary Advisors LLC now owns 47,174 shares of the company’s stock worth $696,000 after purchasing an additional 5,191 shares during the period. Finally, Quent Capital LLC boosted its stake in PENN Entertainment by 1,764.2% in the 4th quarter. Quent Capital LLC now owns 15,808 shares of the company’s stock worth $233,000 after purchasing an additional 14,960 shares during the period. 91.69% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Stifel Nicolaus upped their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Citigroup upped their price target on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Canaccord Genuity Group dropped their price target on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Mizuho upped their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.29.
PENN Entertainment Stock Down 4.8%
Shares of PENN opened at $15.94 on Tuesday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -2.37, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. PENN Entertainment, Inc. has a 1 year low of $11.65 and a 1 year high of $20.60. The business’s 50 day simple moving average is $15.37 and its 200-day simple moving average is $14.71. 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 – Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. PENN Entertainment’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that PENN Entertainment, Inc. will post 1 earnings per share for the current fiscal 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.
Featured Articles
- Five stocks we like better than PENN Entertainment
- Sell in May and Go Away—Starting With These 3 Stocks
- Before the Moon Base Gets Built, These 4 Companies Win
- Industrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases
- 3 Stocks That Win If Inflation Surprises to the Downside
Want to see what other hedge funds are holding PENN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PENN Entertainment, Inc. (NASDAQ:PENN – Free Report).
Receive News & Ratings for PENN Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PENN Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.
