Vanguard Group Inc. Sells 1,050,261 Shares of PENN Entertainment, Inc. $PENN

Vanguard Group Inc. lowered its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 6.8% during the 4th quarter, Holdings Channel reports. The fund owned 14,302,633 shares of the company’s stock after selling 1,050,261 shares during the period. Vanguard Group Inc. owned approximately 0.11% of PENN Entertainment worth $210,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ING Groep NV bought a new position in PENN Entertainment in the third quarter worth approximately $5,790,000. Strs Ohio grew its holdings in shares of PENN Entertainment by 365.5% during the third quarter. Strs Ohio now owns 252,705 shares of the company’s stock valued at $4,867,000 after buying an additional 198,417 shares during the last quarter. Invenomic Capital Management LP grew its holdings in shares of PENN Entertainment by 6.9% during the third quarter. Invenomic Capital Management LP now owns 1,569,939 shares of the company’s stock valued at $30,237,000 after buying an additional 101,028 shares during the last quarter. Hill Path Capital LP grew its holdings in shares of PENN Entertainment by 64.4% during the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after buying an additional 2,257,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of PENN Entertainment by 330.0% during the fourth quarter. SG Americas Securities LLC now owns 149,710 shares of the company’s stock valued at $2,208,000 after buying an additional 114,892 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $16.74 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of -2.49, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $20.60. The company’s fifty day simple moving average is $15.26 and its two-hundred day simple moving average is $14.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, beating 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 firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that PENN Entertainment, Inc. will post 1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PENN shares. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Citigroup boosted their price target on shares of PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Stifel Nicolaus boosted their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Morgan Stanley boosted their price target on shares of PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Eight investment 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. Based on data from MarketBeat, PENN Entertainment has an average rating of “Hold” and an average target price of $20.29.

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.