AXQ Capital LP Acquires New Shares in PENN Entertainment, Inc. $PENN

AXQ Capital LP purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 3rd quarter, Holdings Channel reports. The fund purchased 43,169 shares of the company’s stock, valued at approximately $831,000.

A number of other large investors also recently modified their holdings of the company. Hill Path Capital LP bought a new position in PENN Entertainment in the second quarter valued at about $62,595,000. ING Groep NV acquired a new stake in PENN Entertainment during the 3rd quarter worth approximately $5,790,000. Arrowstreet Capital Limited Partnership acquired a new position in PENN Entertainment in the 2nd quarter valued at approximately $40,214,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of PENN Entertainment by 711.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,490 shares of the company’s stock valued at $2,135,000 after acquiring an additional 104,770 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in shares of PENN Entertainment by 13.6% during the second quarter. Peregrine Capital Management LLC now owns 315,633 shares of the company’s stock worth $5,640,000 after purchasing an additional 37,888 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PENN shares. Mizuho set a $19.00 target price on PENN Entertainment in a research report on Monday, February 2nd. Wells Fargo & Company started coverage on shares of PENN Entertainment in a research report on Tuesday, November 18th. They set an “underweight” rating and a $15.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and set a $17.00 price objective on shares of PENN Entertainment in a research report on Wednesday, December 24th. Canaccord Genuity Group cut their price target on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Finally, Citigroup reissued a “market outperform” rating on shares of PENN Entertainment in a research report on Monday, December 1st. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.67.

PENN Entertainment Trading Down 6.5%

NASDAQ PENN opened at $12.17 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.65. The firm has a market capitalization of $1.62 billion, a P/E ratio of -1.92, a PEG ratio of 0.44 and a beta of 1.39. The business has a fifty day simple moving average of $13.82 and a 200 day simple moving average of $16.01. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $22.13.

About PENN Entertainment

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.