Invenomic Capital Management LP Sells 34,886 Shares of PENN Entertainment, Inc. $PENN

Invenomic Capital Management LP decreased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,535,053 shares of the company’s stock after selling 34,886 shares during the quarter. PENN Entertainment comprises about 1.1% of Invenomic Capital Management LP’s portfolio, making the stock its 27th biggest holding. Invenomic Capital Management LP’s holdings in PENN Entertainment were worth $22,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Quarry LP bought a new position in shares of PENN Entertainment in the fourth quarter valued at $36,000. IFP Advisors Inc raised its position in PENN Entertainment by 76.2% during the fourth 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 bought a new stake in PENN Entertainment during the fourth quarter worth $47,000. Triumph Capital Management acquired a new stake in PENN Entertainment in the third quarter valued at $54,000. Finally, Hantz Financial Services Inc. lifted its stake in PENN Entertainment by 385.1% in the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PENN. Mizuho boosted their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 24th. Wells Fargo & Company lifted their price target on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Wall Street Zen upgraded PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Stifel Nicolaus raised their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Eight research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.43.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $21.23 on Thursday. The company has a market cap of $2.84 billion, a P/E ratio of -3.16, a P/E/G ratio of 0.70 and a beta of 1.44. The firm’s fifty day moving average price is $17.60 and its two-hundred day moving average price is $15.32. PENN Entertainment, Inc. has a one year low of $11.65 and a one 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 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 company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $0.68 EPS. PENN Entertainment’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that PENN Entertainment, Inc. will post 1.02 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.