BW Gestao de Investimentos Ltda. Acquires 90,935 Shares of PENN Entertainment, Inc. $PENN

BW Gestao de Investimentos Ltda. raised its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 817,117 shares of the company’s stock after acquiring an additional 90,935 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in PENN Entertainment were worth $12,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Shapiro Capital Management LLC raised its holdings in PENN Entertainment by 6.6% during the third quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock valued at $132,062,000 after acquiring an additional 425,190 shares during the period. Hill Path Capital LP raised its holdings in PENN Entertainment by 64.4% during the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after acquiring an additional 2,257,000 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in 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 period. Earnest Partners LLC increased its holdings in shares of PENN Entertainment by 0.6% in the third quarter. Earnest Partners LLC now owns 2,961,273 shares of the company’s stock worth $57,034,000 after purchasing an additional 18,099 shares during the last quarter. Finally, Armistice Capital LLC increased its holdings in shares of PENN Entertainment by 48.8% in the third quarter. Armistice Capital LLC now owns 2,103,666 shares of the company’s stock worth $40,517,000 after purchasing an additional 690,078 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Susquehanna reduced their target price on PENN Entertainment from $20.00 to $17.00 and set a “positive” rating on the stock in a report on Wednesday, February 11th. Stifel Nicolaus lifted their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Wells Fargo & Company lifted their target price on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Citigroup lifted their target price on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. lifted their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.29.

PENN Entertainment Trading Up 7.5%

PENN opened at $20.24 on Tuesday. The firm has a market cap of $2.71 billion, a P/E ratio of -3.01, a P/E/G ratio of 0.61 and a beta of 1.45. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $20.60. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. The stock has a 50-day moving average of $16.13 and a 200 day moving average of $14.78.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. As a group, research analysts forecast that PENN Entertainment, Inc. will post 1 EPS for the current year.

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.