Counterpoint Mutual Funds LLC Grows Holdings in PENN Entertainment, Inc. $PENN

Counterpoint Mutual Funds LLC increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 74.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,818 shares of the company’s stock after acquiring an additional 25,596 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in PENN Entertainment were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Caxton Associates LLP purchased a new stake in PENN Entertainment in the first quarter worth about $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PENN Entertainment by 30.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 344,565 shares of the company’s stock valued at $5,620,000 after purchasing an additional 79,978 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of PENN Entertainment by 6.7% during the second quarter. Russell Investments Group Ltd. now owns 64,280 shares of the company’s stock valued at $1,150,000 after purchasing an additional 4,011 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of PENN Entertainment by 169.6% during the second quarter. First Trust Advisors LP now owns 94,575 shares of the company’s stock valued at $1,690,000 after purchasing an additional 59,489 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of PENN Entertainment by 80.2% in the 2nd quarter. Marshall Wace LLP now owns 386,871 shares of the company’s stock worth $6,913,000 after purchasing an additional 172,158 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $22.01 on Friday. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -3.28, a PEG ratio of 0.70 and a beta of 1.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. The company’s 50 day moving average price is $19.00 and its 200-day moving average price is $15.90. PENN Entertainment, Inc. has a 52 week low of $11.65 and a 52 week high of $22.36.

PENN Entertainment (NASDAQ:PENN) last announced 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 company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. On average, equities research analysts forecast that PENN Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays raised their price objective on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Morgan Stanley boosted their target price on PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group assumed coverage on PENN Entertainment in a research note on Friday, June 26th. They issued a “buy” rating and a $26.00 target price on the stock. Mizuho raised their price target on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Thursday. Ten 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. According to data from MarketBeat, PENN Entertainment presently 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.