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

Armistice Capital LLC grew its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 47.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,096,000 shares of the company’s stock after acquiring an additional 992,334 shares during the quarter. PENN Entertainment accounts for about 0.5% of Armistice Capital LLC’s portfolio, making the stock its 28th biggest position. Armistice Capital LLC’s holdings in PENN Entertainment were worth $45,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Shapiro Capital Management LLC raised its holdings in shares of PENN Entertainment by 6.6% in the third quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock valued at $132,062,000 after purchasing an additional 425,190 shares during the last quarter. Hill Path Capital LP raised its holdings in shares of PENN Entertainment by 64.4% in the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after purchasing an additional 2,257,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of PENN Entertainment by 74.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after purchasing an additional 1,679,953 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of PENN Entertainment by 824.3% in the fourth quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock valued at $51,341,000 after purchasing an additional 3,121,051 shares during the last quarter. Finally, Earnest Partners LLC raised 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 valued at $57,034,000 after purchasing an additional 18,099 shares during the last quarter. 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. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. 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 firm has a fifty day simple moving average of $17.60 and a 200 day simple moving average of $15.32. The stock has a market capitalization of $2.84 billion, a PE ratio of -3.16, a P/E/G ratio of 0.70 and a beta of 1.44.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on PENN. Morgan Stanley lifted their price objective on shares of PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Stifel Nicolaus raised their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Wells Fargo & Company raised their target price on shares of PENN Entertainment from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 24th. Finally, Benchmark raised shares of 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. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.