SG Americas Securities LLC Acquires 114,892 Shares of PENN Entertainment, Inc. $PENN

Key Points

• SG Americas Securities LLC increased its stake in PENN by 330.0% in Q4, acquiring an additional 114,892 shares to hold 149,710 shares (~0.11% of the company) valued at about $2.21 million.
• PENN beat expectations for the quarter with $0.07 EPS versus a -$0.23 consensus and revenue of $1.81 billion (up 8.2% y/y), though the company still posts a negative net margin and return on equity.
• Shares trade near $14.77 with a market cap around $1.97 billion and high leverage (debt/equity ~3.92); analyst coverage is mixed, producing a consensus "Hold" rating and a $19.67 target.

SG Americas Securities LLC raised its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 330.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,710 shares of the company's stock after acquiring an additional 114,892 shares during the quarter. SG Americas Securities LLC owned approximately 0.11% of PENN Entertainment worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cloud Capital Management LLC bought a new position in shares of PENN Entertainment in the third quarter worth about $54,000. Triumph Capital Management bought a new stake in PENN Entertainment during the 3rd quarter valued at about $54,000. GAMMA Investing LLC boosted its position in PENN Entertainment by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company's stock valued at $59,000 after buying an additional 556 shares during the period. Jones Financial Companies Lllp grew its stake in PENN Entertainment by 33.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company's stock worth $65,000 after acquiring an additional 825 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of PENN Entertainment during the third quarter worth approximately $122,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $14.77 on Friday. The company has a 50 day moving average price of $13.80 and a 200 day moving average price of $15.08. The firm has a market capitalization of $1.97 billion, a P/E ratio of -2.45, a PEG ratio of 0.48 and a beta of 1.32. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 3.92. PENN Entertainment, Inc. has a 52 week low of $11.65 and a 52 week high of $20.60.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.30. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.76 billion. PENN Entertainment had a negative return on equity of 1.94% and a negative net margin of 12.11%.The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.44) EPS. Sell-side analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their target price on PENN Entertainment from $26.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Wall Street Zen upgraded PENN Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, March 2nd. Mizuho lifted their price objective on PENN Entertainment from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, March 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PENN Entertainment in a report on Friday, March 27th. Finally, Wells Fargo & Company raised shares of PENN Entertainment from a "strong sell" rating to an "equal weight" rating and raised their target price for the company from $15.00 to $16.00 in a research report on Friday, February 27th. Eight 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. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of "Hold" and a consensus target price of $19.67.

About PENN Entertainment

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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