LMR Partners LLP Acquires 35,239 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

LMR Partners LLP grew its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 608.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,026 shares of the company's stock after purchasing an additional 35,239 shares during the quarter. LMR Partners LLP's holdings in PENN Entertainment were worth $813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Contrarius Group Holdings Ltd acquired a new position in shares of PENN Entertainment during the fourth quarter worth approximately $34,994,000. Norges Bank bought a new position in PENN Entertainment during the fourth quarter worth $27,901,000. SG Americas Securities LLC bought a new position in PENN Entertainment during the fourth quarter worth $27,805,000. Raymond James Financial Inc. acquired a new position in PENN Entertainment during the 4th quarter valued at $17,804,000. Finally, Invesco Ltd. boosted its holdings in PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock valued at $76,941,000 after purchasing an additional 848,066 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Susquehanna lowered their price target on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus reduced their price objective on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Needham & Company LLC decreased their price objective on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley cut their target price on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PENN Entertainment presently has an average rating of "Hold" and a consensus price target of $22.91.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN traded down $0.42 during midday trading on Monday, reaching $15.60. The company's stock had a trading volume of 588,214 shares, compared to its average volume of 4,213,819. The business's fifty day simple moving average is $15.75 and its 200-day simple moving average is $18.63. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a market capitalization of $2.35 billion, a P/E ratio of -4.39, a P/E/G ratio of 1.55 and a beta of 1.81.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.71 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.76) EPS. As a group, equities research analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.