J. Goldman & Co LP Makes New $3.14 Million Investment in PENN Entertainment, Inc. $PENN

J. Goldman & Co LP bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 146,901 shares of the company’s stock, valued at approximately $3,138,000. J. Goldman & Co LP owned approximately 0.11% of PENN Entertainment at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in PENN Entertainment in the 2nd quarter valued at about $410,579,000. Shapiro Capital Management LLC boosted its stake in shares of PENN Entertainment by 6.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock worth $132,062,000 after buying an additional 425,190 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of PENN Entertainment by 57.9% in the first quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock valued at $65,400,000 after acquiring an additional 1,595,502 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of PENN Entertainment by 74.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after acquiring an additional 1,679,953 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in PENN Entertainment by 824.3% during the fourth quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock worth $51,341,000 after acquiring an additional 3,121,051 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PENN shares. Morgan Stanley restated an “underperform” rating on shares of PENN Entertainment in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a report on Wednesday, June 24th. Bank of America increased their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Citigroup reiterated a “market outperform” rating on shares of PENN Entertainment in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group restated a “hold” rating and set a $22.00 price target on shares of PENN Entertainment in a research note on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.53.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $17.75 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.79. The firm has a market capitalization of $2.38 billion, a PE ratio of -2.79, a P/E/G ratio of 0.47 and a beta of 1.43. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36. The company has a 50-day moving average price of $20.32 and a two-hundred day moving average price of $17.42.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. The company 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%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Equities analysts forecast that PENN Entertainment, Inc. will post 1.19 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.