Armistice Capital LLC Has $45.67 Million Stock Holdings in PENN Entertainment, Inc. $PENN

Armistice Capital LLC lifted its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 47.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,096,000 shares of the company’s stock after acquiring an additional 992,334 shares during the period. PENN Entertainment makes up approximately 0.5% of Armistice Capital LLC’s holdings, making the stock its 28th biggest holding. Armistice Capital LLC owned 2.32% of PENN Entertainment worth $45,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PENN. AQR Capital Management LLC raised its position in shares of PENN Entertainment by 824.3% in the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock valued at $51,341,000 after acquiring an additional 3,121,051 shares during the period. Hill Path Capital LP raised its position in shares of PENN Entertainment by 64.4% in the 3rd 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 position in shares of PENN Entertainment by 74.7% in the 3rd 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. Kettle Hill Capital Management LLC raised its position in shares of PENN Entertainment by 129.5% in the 4th quarter. Kettle Hill Capital Management LLC now owns 1,773,390 shares of the company’s stock valued at $26,158,000 after acquiring an additional 1,000,830 shares during the period. Finally, Amundi raised its position in shares of PENN Entertainment by 3,058.9% in the 3rd quarter. Amundi now owns 781,949 shares of the company’s stock valued at $14,458,000 after acquiring an additional 757,195 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

NASDAQ PENN opened at $21.23 on Thursday. The business has a 50 day simple moving average of $17.60 and a 200 day simple moving average of $15.32. PENN Entertainment, Inc. has a 52-week low of $11.65 and a 52-week high of $22.36. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -3.16, a PEG ratio of 0.70 and a beta of 1.44.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Analysts anticipate that PENN Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PENN. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Friday, March 27th. Stifel Nicolaus increased their target price on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Benchmark raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, March 5th. Finally, Mizuho increased their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and a consensus target price of $20.43.

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.