Y Intercept Hong Kong Ltd Has $1.46 Million Holdings in PENN Entertainment, Inc. $PENN

Y Intercept Hong Kong Ltd trimmed its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 42.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,592 shares of the company’s stock after selling 56,523 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.05% of PENN Entertainment worth $1,456,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PENN. Hill Path Capital LP bought a new position in PENN Entertainment in the second quarter valued at $62,595,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of PENN Entertainment during the 2nd quarter worth about $40,214,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of PENN Entertainment by 711.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,490 shares of the company’s stock valued at $2,135,000 after acquiring an additional 104,770 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of PENN Entertainment by 13.6% in the second quarter. Peregrine Capital Management LLC now owns 315,633 shares of the company’s stock valued at $5,640,000 after acquiring an additional 37,888 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its holdings in PENN Entertainment by 18.0% during the second quarter. Hudson Bay Capital Management LP now owns 2,029,843 shares of the company’s stock worth $36,273,000 after acquiring an additional 308,998 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PENN. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, December 29th. Wells Fargo & Company started coverage on shares of PENN Entertainment in a research note on Tuesday, November 18th. They issued an “underweight” rating and a $15.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Needham & Company LLC restated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 7th. Finally, Stifel Nicolaus raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their target price for the company from $19.00 to $21.00 in a report on Friday, November 7th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.13.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler bought 20,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $14.25 per share, for a total transaction of $285,000.00. Following the transaction, the director directly owned 362,941 shares in the company, valued at approximately $5,171,909.25. This trade represents a 5.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay A. Snowden bought 34,700 shares of the stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $14.32 per share, for a total transaction of $496,904.00. Following the completion of the acquisition, the chief executive officer directly owned 1,117,325 shares of the company’s stock, valued at approximately $16,000,094. This trade represents a 3.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 62,015 shares of company stock worth $882,778. 2.67% of the stock is currently owned by company insiders.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $12.84 on Friday. The stock has a 50 day simple moving average of $14.30 and a 200 day simple moving average of $16.63. The stock has a market cap of $1.71 billion, a P/E ratio of -2.02, a PEG ratio of 0.44 and a beta of 1.34. PENN Entertainment, Inc. has a 1-year low of $12.66 and a 1-year high of $23.08. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.65.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned ($0.24) earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that PENN Entertainment, Inc. will post -1.61 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.