PENN Entertainment, Inc. $PENN Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 294.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 82,729 shares of the company’s stock after purchasing an additional 61,757 shares during the quarter. Fifth Third Bancorp’s holdings in PENN Entertainment were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its stake in PENN Entertainment by 1.1% in 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 buying an additional 745 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of PENN Entertainment by 3.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock valued at $394,000 after buying an additional 922 shares during the last quarter. IFP Advisors Inc raised its position in shares of PENN Entertainment by 76.2% in 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 last quarter. Tidal Investments LLC lifted its stake in shares of PENN Entertainment by 8.1% in the second quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after buying an additional 1,483 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV boosted its position in 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 worth $1,107,000 after acquiring an additional 1,866 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 24th. Barclays lifted their price objective on PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Stifel Nicolaus boosted their price objective on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Wells Fargo & Company dropped their target price on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.

PENN Entertainment Trading Up 1.0%

Shares of NASDAQ:PENN opened at $20.48 on Friday. PENN Entertainment, Inc. has a 52 week low of $11.65 and a 52 week high of $22.36. The company’s 50 day moving average is $20.17 and its two-hundred day moving average is $16.54. The company has a market cap of $2.74 billion, a PE ratio of -3.05, a P/E/G ratio of 0.38 and a beta of 1.42. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities analysts predict that PENN Entertainment, Inc. will post 1.39 earnings per share for the current fiscal year.

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.