Seven Six Capital Management LLC Acquires 98,100 Shares of PENN Entertainment, Inc. $PENN

Seven Six Capital Management LLC raised its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 61.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 258,700 shares of the company’s stock after purchasing an additional 98,100 shares during the quarter. PENN Entertainment accounts for approximately 4.1% of Seven Six Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Seven Six Capital Management LLC’s holdings in PENN Entertainment were worth $3,888,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PENN. Quarry LP bought a new position in shares of PENN Entertainment in the fourth quarter worth about $36,000. IFP Advisors Inc lifted its holdings in PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after buying an additional 1,196 shares in the last quarter. Modus Advisors LLC purchased a new stake in PENN Entertainment in the 4th quarter valued at about $47,000. Triumph Capital Management bought a new position in PENN Entertainment in the 3rd quarter worth about $54,000. Finally, Hantz Financial Services Inc. increased its position in shares of PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after acquiring an additional 2,954 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 0.6%

NASDAQ:PENN opened at $21.20 on Thursday. The company’s 50-day simple moving average is $20.46 and its 200-day simple moving average is $16.70. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. PENN Entertainment, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $22.36. The stock has a market capitalization of $2.84 billion, a P/E ratio of -3.15, a P/E/G ratio of 0.40 and a beta of 1.42.

Wall Street Analyst Weigh In

PENN has been the subject of several research reports. Citizens Jmp upped their target price on PENN Entertainment from $24.00 to $26.00 and gave the stock a “market outperform” rating in a report on Thursday, July 16th. Susquehanna increased their target price on shares of PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Jefferies Financial Group reissued a “hold” rating on shares of PENN Entertainment in a research report on Thursday, July 2nd. Stifel Nicolaus upped their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Finally, Capital One Financial upgraded shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.

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.