Y Intercept Hong Kong Ltd Purchases New Holdings in PENN Entertainment, Inc. $PENN

Y Intercept Hong Kong Ltd acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the first quarter, Holdings Channel reports. The firm acquired 205,648 shares of the company’s stock, valued at approximately $3,091,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of PENN Entertainment during the 4th quarter valued at about $36,000. IFP Advisors Inc grew its position in 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 acquiring an additional 1,196 shares in the last quarter. Triumph Capital Management acquired a new position in shares of PENN Entertainment during the 3rd quarter worth $54,000. Modus Advisors LLC acquired a new position in shares of PENN Entertainment during the 4th quarter worth $47,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of PENN Entertainment by 385.1% during the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after purchasing an additional 2,954 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock traded down $0.18 during trading on Tuesday, hitting $20.96. 884,488 shares of the stock were exchanged, compared to its average volume of 4,194,858. The company has a fifty day moving average price of $19.07 and a 200-day moving average price of $15.97. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -3.11, a price-to-earnings-growth ratio of 0.70 and a beta of 1.42. 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.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data 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. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, equities analysts predict that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PENN. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th. The Goldman Sachs Group began coverage on PENN Entertainment in a research note on Friday, June 26th. They set a “buy” rating and a $26.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Susquehanna lifted their price target on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, July 1st. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

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.