Penn Capital Management Company LLC Has $25.39 Million Stock Holdings in PENN Entertainment, Inc. $PENN

Key Points

• Penn Capital Management increased its PENN Entertainment stake by 6.2% in the second quarter, reaching 1.19 million shares valued at approximately $25.39 million. Institutional investors and hedge funds collectively own 91.69% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy, seven Hold and one Sell rating. The stock has a “Moderate Buy” consensus rating and an average price target of $23.53.
• PENN reported quarterly earnings of $0.44 per share, exceeding estimates of $0.37, while revenue reached $1.86 billion, up 5.2% year over year. Despite the earnings beat, the company reported a negative net margin of 12.66%.

Penn Capital Management Company LLC boosted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,186,487 shares of the company's stock after acquiring an additional 69,674 shares during the period. PENN Entertainment accounts for 1.6% of Penn Capital Management Company LLC's holdings, making the stock its 9th biggest position. Penn Capital Management Company LLC owned 0.88% of PENN Entertainment worth $25,391,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PENN. Ieq Capital LLC acquired a new position in shares of PENN Entertainment during the second quarter valued at about $3,190,000. Bamco Inc. NY acquired a new stake in PENN Entertainment in the 2nd quarter worth approximately $58,624,000. Whitebox Advisors LLC purchased a new stake in PENN Entertainment during the 1st quarter worth approximately $737,000. Assenagon Asset Management S.A. increased its stake in PENN Entertainment by 47.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 180,310 shares of the company's stock valued at $3,851,000 after purchasing an additional 58,174 shares in the last quarter. Finally, J. Goldman & Co LP purchased a new position in shares of PENN Entertainment in the second quarter worth $3,138,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Benchmark boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a "buy" rating in a report on Friday, August 7th. Mizuho set a $28.00 target price on PENN Entertainment in a research note on Friday, August 7th. Wells Fargo & Company lowered their price target on PENN Entertainment from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 14th. The Goldman Sachs Group assumed coverage on PENN Entertainment in a research note on Friday, June 26th. They set a "buy" rating and a $26.00 price target on the stock. Finally, Susquehanna increased their price objective on PENN Entertainment from $24.00 to $28.00 and gave the company a "positive" rating in a report on Wednesday, July 1st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.53.

PENN Entertainment Stock Up 0.2%

PENN stock opened at $17.36 on Friday. The company has a market capitalization of $2.33 billion, a P/E ratio of -2.73, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $22.36. The firm's fifty day simple moving average is $20.10 and its 200-day simple moving average is $17.49. 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 issued 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. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) earnings per share. As a group, equities research analysts forecast that PENN Entertainment, Inc. will post 1.19 earnings per share for the current year.

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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