534,013 PENN Entertainment, Inc. $PENN Shares Acquired by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC increased its PENN Entertainment stake by 911.1% in the third quarter, acquiring 534,013 additional shares and bringing its holdings to 592,628 shares valued at approximately $8.68 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24.00, despite PENN shares opening at $14.94.
• PENN reported quarterly revenue of $1.86 billion, up 5.2% year over year, and adjusted earnings of $0.44 per share—beating analysts’ estimate of $0.37—though the company continued to post a negative net margin.

Counterpoint Mutual Funds LLC increased its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 911.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 592,628 shares of the company's stock after acquiring an additional 534,013 shares during the period. Counterpoint Mutual Funds LLC owned about 0.44% of PENN Entertainment worth $8,682,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PENN. Nykredit A S bought a new stake in PENN Entertainment in the second quarter worth $25,000. Versant Capital Management Inc increased its stake in shares of PENN Entertainment by 29.6% in the third quarter. Versant Capital Management Inc now owns 3,513 shares of the company's stock worth $51,000 after buying an additional 803 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of PENN Entertainment during the second quarter valued at about $66,000. GAMMA Investing LLC lifted its holdings in PENN Entertainment by 19.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $118,000 after buying an additional 895 shares during the period. Finally, Allworth Financial LP purchased a new stake in PENN Entertainment in the second quarter worth $131,000. Institutional investors own 91.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PENN shares. JPMorgan Chase & Co. lifted their price objective on PENN Entertainment from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Bank of America boosted their price target on PENN Entertainment from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Barclays boosted their target price on PENN Entertainment from $26.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, October 9th. Benchmark upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Citigroup restated a "market outperform" rating on shares of PENN Entertainment in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.00.

PENN Entertainment Stock Down 1.8%

PENN opened at $14.94 on Friday. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. The firm's 50 day simple moving average is $16.79 and its two-hundred day simple moving average is $18.04. 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 $2.00 billion, a PE ratio of -2.35, a PEG ratio of 0.38 and a beta of 1.39.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted ($0.12) EPS. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that PENN Entertainment, Inc. will post 1.20 EPS for the current year.

PENN Entertainment Company Profile

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and hotels, offering casino gaming, sports wagering, dining, live entertainment and other hospitality services. Its property portfolio includes regional gaming destinations serving customers across the United States.

PENN also develops and operates digital gaming products, including online sports betting and iCasino services. Its digital operations have included the ESPN BET sportsbook, developed through a strategic relationship with ESPN, as well as theScore Bet, supported by the company's acquisition of Canadian digital media and sports betting business theScore.

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