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

Invenomic Capital Management LP cut its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,535,053 shares of the company’s stock after selling 34,886 shares during the period. PENN Entertainment makes up approximately 1.1% of Invenomic Capital Management LP’s investment portfolio, making the stock its 27th largest holding. Invenomic Capital Management LP owned 1.15% of PENN Entertainment worth $22,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of PENN Entertainment in the fourth quarter worth about $36,000. IFP Advisors Inc raised its position in shares of 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 purchasing an additional 1,196 shares during the period. Modus Advisors LLC bought a new position in shares of PENN Entertainment during the 4th quarter valued at about $47,000. Triumph Capital Management acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at approximately $54,000. Finally, Hantz Financial Services Inc. grew its position in shares of PENN Entertainment by 385.1% in 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 during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

Shares of PENN opened at $21.23 on Thursday. 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, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36. The stock has a market capitalization 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 company has a 50 day moving average of $17.60 and a 200-day moving average of $15.32.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The business 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 firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts forecast that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PENN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of PENN Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Barclays increased their price objective on shares of PENN Entertainment from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 24th. Mizuho increased their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Benchmark raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, March 5th. Eight 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.43.

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.