PENN Entertainment, Inc. $PENN Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 86.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 122,136 shares of the company’s stock after selling 800,532 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PENN Entertainment were worth $1,836,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $36,000. IFP Advisors Inc boosted its holdings in PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares during the period. Triumph Capital Management purchased a new position in PENN Entertainment in the 3rd quarter worth approximately $54,000. Modus Advisors LLC acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $47,000. Finally, Hantz Financial Services Inc. grew its position in PENN Entertainment by 385.1% in the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN opened at $21.49 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 debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -3.20, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. The firm has a fifty day moving average of $18.72 and a 200-day moving average of $15.81.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $0.68 earnings per share. PENN Entertainment’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that PENN Entertainment, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of recent analyst reports. The Goldman Sachs Group started coverage on shares of PENN Entertainment in a report on Friday, June 26th. They set a “buy” rating and a $26.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. Truist Financial raised their target price on PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Wells Fargo & Company lifted their target price on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PENN Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

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.