Louisiana State Employees Retirement System Purchases Shares of 56,500 PENN Entertainment, Inc. $PENN

Louisiana State Employees Retirement System purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,500 shares of the company’s stock, valued at approximately $849,000.

A number of other hedge funds have also recently made changes to their positions in PENN. Treasurer of the State of North Carolina grew its holdings in shares of PENN Entertainment by 1.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock valued at $1,245,000 after purchasing an additional 745 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in PENN Entertainment by 3.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after purchasing an additional 922 shares during the last quarter. IFP Advisors Inc boosted its position in PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after buying an additional 1,196 shares during the period. Tidal Investments LLC boosted its position in PENN Entertainment by 8.1% during the second quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock valued at $352,000 after buying an additional 1,483 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV grew its stake in shares of PENN Entertainment by 2.5% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 75,044 shares of the company’s stock valued at $1,107,000 after buying an additional 1,866 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

PENN opened at $22.01 on Monday. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $22.36. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50 day simple moving average of $19.00 and a two-hundred day simple moving average of $15.92. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -3.28, a PEG ratio of 0.70 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data 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. The firm had revenue of $1.78 billion for 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 business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Analysts predict that PENN Entertainment, Inc. will post 1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating on shares of PENN Entertainment in a research note on Thursday. Mizuho raised their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Morgan Stanley boosted their price objective on PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Susquehanna increased their price objective on PENN Entertainment from $24.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

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.