Sequoia Financial Advisors LLC Takes $6.38 Million Position in PENN Entertainment, Inc. $PENN

Key Points

• Sequoia Financial Advisors LLC initiated a new stake in PENN Entertainment during the fourth quarter, buying 432,295 shares valued at about $6.38 million and owning roughly 0.32% of the company.
• PENN Entertainment reported better-than-expected quarterly results, posting EPS of $0.11 versus the $0.05 estimate and revenue of $1.78 billion, up 6.4% year over year.
• Analysts remain mixed on the stock, with an average rating of “Hold” and an average price target of $20.29, while recent price-target changes included several upward revisions.

Sequoia Financial Advisors LLC bought a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 432,295 shares of the company's stock, valued at approximately $6,376,000. Sequoia Financial Advisors LLC owned approximately 0.32% of PENN Entertainment at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Acorn Financial Advisory Services Inc. ADV boosted its stake in shares of PENN Entertainment by 2.5% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 75,044 shares of the company's stock valued at $1,107,000 after purchasing an additional 1,866 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of PENN Entertainment by 40.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 156,748 shares of the company's stock valued at $2,312,000 after purchasing an additional 44,797 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of PENN Entertainment by 12.4% during the 4th quarter. Sanctuary Advisors LLC now owns 47,174 shares of the company's stock valued at $696,000 after purchasing an additional 5,191 shares in the last quarter. Quent Capital LLC boosted its stake in shares of PENN Entertainment by 1,764.2% during the 4th quarter. Quent Capital LLC now owns 15,808 shares of the company's stock valued at $233,000 after purchasing an additional 14,960 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of PENN Entertainment by 4.8% during the 4th quarter. Peregrine Capital Management LLC now owns 329,896 shares of the company's stock valued at $4,866,000 after purchasing an additional 15,208 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Down 0.2%

NASDAQ:PENN opened at $16.74 on Friday. The firm has a market cap of $2.24 billion, a P/E ratio of -2.49, a P/E/G ratio of 0.55 and a beta of 1.43. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. PENN Entertainment, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $20.60. The firm has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $14.72.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company's revenue was up 6.4% on a year-over-year basis. Analysts predict that PENN Entertainment, Inc. will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PENN has been the topic of a number of research reports. Stifel Nicolaus lifted their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Canaccord Genuity Group lowered their price target on shares of PENN Entertainment from $26.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Citigroup lifted their price target on shares of PENN Entertainment from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating, six have issued 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 "Hold" and an average target price of $20.29.

PENN Entertainment Company 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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