Sanctuary Advisors LLC Takes Position in PENN Entertainment, Inc. $PENN

Sanctuary Advisors LLC bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 59,653 shares of the company’s stock, valued at approximately $1,274,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in PENN Entertainment in the 2nd quarter worth approximately $410,579,000. Shapiro Capital Management LLC grew its stake in shares of PENN Entertainment by 6.6% during the 3rd quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock worth $132,062,000 after purchasing an additional 425,190 shares during the period. Bank of America Corp DE increased its holdings in shares of PENN Entertainment by 57.9% during the 1st quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock valued at $65,400,000 after purchasing an additional 1,595,502 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of PENN Entertainment by 74.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after purchasing an additional 1,679,953 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of PENN Entertainment by 824.3% in the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock valued at $51,341,000 after purchasing an additional 3,121,051 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PENN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Stifel Nicolaus increased their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Citigroup restated a “market outperform” rating on shares of PENN Entertainment in a research report on Tuesday, August 18th. Jefferies Financial Group restated a “hold” rating and issued a $22.00 price target on shares of PENN Entertainment in a research note on Friday, August 7th. Finally, Morgan Stanley reaffirmed an “underperform” rating on shares of PENN Entertainment in a report on Wednesday, August 12th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Stock Down 2.9%

Shares of NASDAQ PENN opened at $17.33 on Friday. The company’s 50-day simple moving average is $20.17 and its 200-day simple moving average is $17.49. PENN Entertainment, Inc. has a 52-week low of $11.65 and a 52-week high of $22.36. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -2.72, a price-to-earnings-growth ratio of 0.46 and a beta of 1.43. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.79.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. PENN Entertainment’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted ($0.12) EPS. Equities analysts predict that PENN Entertainment, Inc. will post 1.19 EPS for the current fiscal 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.