PENN Entertainment, Inc. $PENN Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 81.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,302 shares of the company’s stock after selling 121,408 shares during the quarter. SG Americas Securities LLC’s holdings in PENN Entertainment were worth $425,000 at the end of the most recent reporting period.

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

PENN Entertainment Stock Down 3.2%

PENN opened at $20.12 on Thursday. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $22.36. The business has a 50-day moving average of $19.19 and a two-hundred day moving average of $16.05. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -2.99, a price-to-earnings-growth ratio of 0.66 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.74 billion. During the same period in the prior year, the firm posted $0.68 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that PENN Entertainment, Inc. will post 1.02 earnings per share for the current year.

Analyst Ratings Changes

PENN has been the topic of several analyst reports. Susquehanna raised their price target on shares of PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. upped their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Stifel Nicolaus raised 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 24th. Finally, Barclays boosted their price target on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PENN Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

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.