Lazard Asset Management LLC purchased a new stake in PENN Entertainment, Inc. (NASDAQ:PENN – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,777 shares of the company’s stock, valued at approximately $658,000.
A number of other hedge funds have also recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its stake in shares of PENN Entertainment by 1.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock valued at $1,245,000 after buying an additional 745 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of PENN Entertainment by 3.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after buying an additional 922 shares in the last quarter. IFP Advisors Inc increased its stake in shares of PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the last quarter. Tidal Investments LLC increased its stake in shares of PENN Entertainment by 8.1% in the second quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after buying an additional 1,483 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in PENN Entertainment by 13.9% in the first quarter. PNC Financial Services Group Inc. now owns 14,298 shares of the company’s stock valued at $215,000 after acquiring an additional 1,745 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.
PENN Entertainment Stock Performance
PENN Entertainment stock opened at $20.13 on Friday. The company has a market cap of $2.69 billion, a PE ratio of -3.00, a P/E/G ratio of 0.37 and a beta of 1.43. The company has a fifty day moving average price of $20.75 and a two-hundred day moving average price of $16.95. 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, Inc. has a 12 month low of $11.65 and a 12 month high of $22.36.
PENN Entertainment News Summary
Here are the key news stories impacting PENN Entertainment this week:
- Positive Sentiment: Management is targeting more than 20% growth in 2026 adjusted EBITDAR and raised its retail revenue guidance to approximately $5.87 billion, signaling confidence in casino demand and operating performance. PENN targets adjusted EBITDAR growth and raises retail guidance
- Positive Sentiment: The earnings beat and year-over-year improvement suggest broad-based casino demand is supporting improved profitability, helping offset ongoing pressure in the company’s digital operations. PENN tops second-quarter earnings and revenue estimates
- Positive Sentiment: PENN was included in Zacks’ list of Rank #1 “Strong Buy” growth stocks, providing an additional favorable analyst signal, although such rankings are generally less influential than earnings and guidance. Zacks Strong Buy growth stocks list
- Neutral Sentiment: Second-quarter sales were essentially in line with forecasts, indicating that the positive reaction was driven primarily by the earnings beat and raised outlook rather than a major revenue surprise. PENN second-quarter earnings snapshot
- Negative Sentiment: Management expects a potential prediction-market “arms race” this fall and is maintaining its current strategy. Intensifying competition could increase marketing costs and pressure PENN’s online gaming growth. PENN prediction-market competition outlook
Analyst Ratings Changes
Several brokerages have weighed in on PENN. JPMorgan Chase & Co. raised their price objective on shares of PENN Entertainment from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Truist Financial upped their target price on shares of PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Barclays increased their price target on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wells Fargo & Company decreased their price target on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group started coverage on PENN Entertainment in a report on Friday, June 26th. They issued a “buy” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PENN Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.
Check Out Our Latest Stock Analysis on PENN Entertainment
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.
Featured Articles
- Five stocks we like better than PENN Entertainment
- Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
- 4 Oil and Gas ETF Plays as Prices Stay Sky-High
- What Tesla Stands to Lose If It Walks Away From China
- Disney Sets Up for a Magical Year in 2027
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.
