Y Intercept Hong Kong Ltd Purchases New Shares in PENN Entertainment, Inc. $PENN

Y Intercept Hong Kong Ltd acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 205,648 shares of the company’s stock, valued at approximately $3,091,000. Y Intercept Hong Kong Ltd owned 0.15% of PENN Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management Holding SA lifted its position in PENN Entertainment by 16.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 23,829 shares of the company’s stock worth $358,000 after acquiring an additional 3,368 shares during the period. Louisiana State Employees Retirement System purchased a new position in PENN Entertainment in the 1st quarter valued at $849,000. Blue Trust Inc. increased its stake in PENN Entertainment by 59.5% in the 1st quarter. Blue Trust Inc. now owns 9,782 shares of the company’s stock valued at $147,000 after buying an additional 3,649 shares during the period. Alpine Global Management LLC purchased a new position in PENN Entertainment during the 4th quarter worth $176,000. Finally, Axxcess Wealth Management LLC lifted its stake in shares of PENN Entertainment by 54.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 55,075 shares of the company’s stock worth $812,000 after acquiring an additional 19,500 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PENN. Barclays boosted their price target on shares of PENN Entertainment from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft boosted their target price on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Jefferies Financial Group reissued a “hold” rating on shares of PENN Entertainment in a report on Thursday. Truist Financial upped their price objective on PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Stifel Nicolaus boosted their target price 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. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded down $0.18 on Tuesday, hitting $20.96. The company’s stock had a trading volume of 884,488 shares, compared to its average volume of 4,194,858. PENN Entertainment, Inc. has a 52-week low of $11.65 and a 52-week high of $22.36. The company has a market capitalization of $2.81 billion, a P/E ratio of -3.11, a price-to-earnings-growth ratio of 0.70 and a beta of 1.42. The firm has a fifty day moving average price of $19.07 and a 200-day moving average price of $15.97. 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 issued its earnings results on Thursday, April 23rd. The company reported $0.11 EPS 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 business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that PENN Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

About PENN Entertainment

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.