Susquehanna Fundamental Investments LLC Takes $831,000 Position in PENN Entertainment, Inc. $PENN

Susquehanna Fundamental Investments LLC acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 38,892 shares of the company’s stock, valued at approximately $831,000.

Several other large investors have also recently bought and sold shares of PENN. Ieq Capital LLC acquired a new stake in PENN Entertainment during the 2nd quarter valued at $3,190,000. Bamco Inc. NY purchased a new stake in shares of PENN Entertainment in the second quarter valued at $58,624,000. Whitebox Advisors LLC acquired a new stake in shares of PENN Entertainment during the first quarter valued at $737,000. Assenagon Asset Management S.A. increased its position in PENN Entertainment by 47.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 180,310 shares of the company’s stock worth $3,851,000 after purchasing an additional 58,174 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in PENN Entertainment in the 2nd quarter valued at about $3,911,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. Zacks Research downgraded PENN Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Susquehanna increased their price target on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th. Finally, Barclays increased their target price on PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.53.

PENN Entertainment Trading Up 3.0%

Shares of PENN opened at $16.89 on Thursday. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36. The firm has a market capitalization of $2.26 billion, a P/E ratio of -2.66, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. The stock’s fifty day simple moving average is $19.86 and its 200 day simple moving average is $17.59.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, equities research analysts forecast that PENN Entertainment, Inc. will post 1.19 earnings per share for the current year.

PENN Entertainment 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.