Versor Investments LP Increases Stock Position in PENN Entertainment, Inc. $PENN

Versor Investments LP raised its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 179.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,046 shares of the company’s stock after buying an additional 52,000 shares during the quarter. Versor Investments LP owned about 0.06% of PENN Entertainment worth $1,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its position in shares of PENN Entertainment by 1.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock worth $1,245,000 after purchasing an additional 745 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of PENN Entertainment by 33.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after purchasing an additional 825 shares during the last quarter. Tidal Investments LLC raised its position in shares of PENN Entertainment by 8.1% in the 2nd quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after purchasing an additional 1,483 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV raised its position in shares of PENN Entertainment by 2.5% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 75,044 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,866 shares during the last quarter. Finally, Triumph Capital Management purchased a new position in shares of PENN Entertainment in the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PENN shares. Wells Fargo & Company lifted their price target on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Benchmark raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price target on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley boosted their target price on PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.29.

PENN Entertainment Trading Down 4.8%

Shares of NASDAQ:PENN opened at $15.94 on Tuesday. The stock has a 50 day moving average of $15.37 and a 200 day moving average of $14.71. The company has a market cap of $2.13 billion, a PE ratio of -2.37, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $20.60.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. As a group, equities research analysts expect that PENN Entertainment, Inc. will post 1 EPS for the current year.

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.