Deutsche Bank AG Acquires Shares of 183,114 PENN Entertainment, Inc. $PENN

Deutsche Bank AG acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 183,114 shares of the company’s stock, valued at approximately $3,911,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PENN. Shapiro Capital Management LLC raised its holdings in shares of PENN Entertainment by 6.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock worth $132,062,000 after acquiring an additional 425,190 shares during the last quarter. Bank of America Corp DE boosted its stake in PENN Entertainment by 57.9% during the 1st quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock valued at $65,400,000 after purchasing an additional 1,595,502 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in PENN Entertainment by 74.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after purchasing an additional 1,679,953 shares during the last quarter. AQR Capital Management LLC increased its holdings in PENN Entertainment by 824.3% during the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock worth $51,341,000 after purchasing an additional 3,121,051 shares in the last quarter. Finally, Armistice Capital LLC increased its holdings in PENN Entertainment by 47.2% during the 4th quarter. Armistice Capital LLC now owns 3,096,000 shares of the company’s stock worth $45,666,000 after purchasing an additional 992,334 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Performance

PENN stock opened at $17.75 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.79. The firm has a market cap of $2.38 billion, a PE ratio of -2.79, a P/E/G ratio of 0.47 and a beta of 1.43. The business has a 50 day moving average of $20.32 and a 200-day moving average of $17.42. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $22.36.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted ($0.12) earnings per share. PENN Entertainment’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. 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 report on Tuesday, July 14th. Truist Financial increased their price target on PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group started coverage on PENN Entertainment in a research note on Friday, June 26th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a report on Wednesday, June 24th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PENN Entertainment presently has an average rating of “Moderate Buy” and an average price target of $23.53.

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.