Deutsche Bank AG Makes New $3.91 Million Investment in PENN Entertainment, Inc. $PENN

Key Points

• Deutsche Bank acquired 183,114 shares of PENN Entertainment during the second quarter, worth approximately $3.91 million and representing 0.14% of the company. Institutional investors collectively own 91.69% of PENN.
• PENN reported quarterly EPS of $0.44, beating estimates of $0.37, while revenue reached $1.86 billion, up 5.2% year over year. However, the company posted a negative net margin of 12.66%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $23.53, compared with shares opening at $17.75.

Deutsche Bank AG purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 183,114 shares of the company's stock, valued at approximately $3,911,000. Deutsche Bank AG owned 0.14% of PENN Entertainment as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in PENN Entertainment during the fourth quarter worth $36,000. IFP Advisors Inc boosted its position in PENN Entertainment by 76.2% during 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 last quarter. Modus Advisors LLC bought a new stake in PENN Entertainment during the fourth quarter valued at $47,000. Triumph Capital Management acquired a new stake in PENN Entertainment during the 3rd quarter worth about $54,000. Finally, Hantz Financial Services Inc. raised its position in shares of PENN Entertainment by 385.1% in the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company's stock worth $55,000 after acquiring an additional 2,954 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $17.75 on Wednesday. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $22.36. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -2.79, a PEG ratio of 0.47 and a beta of 1.43. The business has a 50-day simple moving average of $20.32 and a 200 day simple moving average of $17.42. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. On average, research analysts anticipate that PENN Entertainment, Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PENN shares. Zacks Research lowered PENN Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Truist Financial lifted their target price on PENN Entertainment from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, June 26th. JPMorgan Chase & Co. boosted their price target on PENN Entertainment from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Mizuho set a $28.00 price target on PENN Entertainment in a report on Friday, August 7th. Finally, Barclays raised their price objective on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.53.

PENN Entertainment 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.

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