Bamco Inc. NY bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,744,568 shares of the company's stock, valued at approximately $58,624,000. Bamco Inc. NY owned approximately 2.05% of PENN Entertainment as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of PENN Entertainment during the 2nd quarter valued at $410,579,000. Shapiro Capital Management LLC lifted its position in PENN Entertainment by 6.6% during the 3rd quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company's stock valued at $132,062,000 after acquiring an additional 425,190 shares during the period. Bank of America Corp DE purchased a new position in PENN Entertainment during the 2nd quarter valued at about $108,919,000. Arrowstreet Capital Limited Partnership boosted its stake in PENN Entertainment by 74.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company's stock worth $75,697,000 after acquiring an additional 1,679,953 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in PENN Entertainment by 824.3% during the fourth quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company's stock worth $51,341,000 after acquiring an additional 3,121,051 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.
Wall Street Analyst Weigh In
PENN has been the subject of a number of recent research reports. Barclays lifted their price objective on PENN Entertainment from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Susquehanna increased their target price on PENN Entertainment from $24.00 to $28.00 and gave the stock a "positive" rating in a research note on Wednesday, July 1st. Bank of America raised their price target on PENN Entertainment from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Zacks Research lowered PENN Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Truist Financial upped their price target on shares of PENN Entertainment from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.53.
Get Our Latest Research Report on PENN Entertainment
PENN Entertainment Stock Up 0.6%
Shares of PENN Entertainment stock opened at $17.85 on Thursday. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.79. The company's 50 day moving average is $20.25 and its 200 day moving average is $17.46. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -2.81, a price-to-earnings-growth ratio of 0.46 and a beta of 1.43.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm's revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that PENN Entertainment, Inc. will post 1.19 EPS for the current year.
PENN Entertainment 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.
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