Castleark Management LLC acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 351,920 shares of the company's stock, valued at approximately $7,517,000. Castleark Management LLC owned approximately 0.26% of PENN Entertainment at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $36,000. IFP Advisors Inc lifted its holdings in 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 acquiring an additional 1,196 shares during the period. Triumph Capital Management purchased a new stake in shares of PENN Entertainment during the 3rd quarter worth $54,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of PENN Entertainment during the 2nd quarter worth $66,000. Finally, Modus Advisors LLC acquired a new position in shares of PENN Entertainment during the 4th quarter worth $47,000. Institutional investors and hedge funds own 91.69% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. Mizuho set a $28.00 price objective on shares of PENN Entertainment in a research note on Friday, August 7th. Bank of America upped their target price on shares of PENN Entertainment from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Barclays lifted their price target on shares of PENN Entertainment from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Susquehanna boosted their price target on PENN Entertainment from $24.00 to $28.00 and gave the stock a "positive" rating in a research note on Wednesday, July 1st. Finally, Zacks Research cut PENN Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.53.
Check Out Our Latest Stock Analysis on PENN Entertainment
PENN Entertainment Stock Performance
NASDAQ:PENN opened at $17.75 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. The company has a market capitalization of $2.38 billion, a P/E ratio of -2.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.43. The firm has a 50-day moving average price of $20.32 and a two-hundred day moving average price of $17.42. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, research analysts expect that PENN Entertainment, Inc. will post 1.19 earnings per share for the current fiscal year.
PENN Entertainment Company Profile
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider PENN Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PENN Entertainment wasn't on the list.
While PENN Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
