DME Capital Management LP Has $113.93 Million Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

DME Capital Management LP lifted its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,748,440 shares of the company's stock after buying an additional 127,670 shares during the quarter. PENN Entertainment makes up about 5.9% of DME Capital Management LP's investment portfolio, making the stock its 6th largest position. DME Capital Management LP owned about 3.77% of PENN Entertainment worth $113,934,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PENN. Tidal Investments LLC boosted its stake in PENN Entertainment by 35.2% during the third quarter. Tidal Investments LLC now owns 14,888 shares of the company's stock worth $281,000 after buying an additional 3,879 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of PENN Entertainment by 8.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company's stock worth $11,851,000 after buying an additional 46,209 shares during the period. Westside Investment Management Inc. raised its holdings in shares of PENN Entertainment by 3.2% in the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company's stock worth $393,000 after buying an additional 620 shares during the period. SG Americas Securities LLC purchased a new stake in shares of PENN Entertainment in the fourth quarter worth approximately $27,805,000. Finally, Hedges Asset Management LLC raised its holdings in shares of PENN Entertainment by 2.2% in the fourth quarter. Hedges Asset Management LLC now owns 204,650 shares of the company's stock worth $4,056,000 after buying an additional 4,400 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PENN. Susquehanna lowered their price objective on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, April 15th. Truist Financial dropped their price target on PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their price target on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Morgan Stanley cut their price target on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of "Hold" and a consensus target price of $22.91.

PENN Entertainment Stock Performance

PENN traded up $0.30 during trading on Tuesday, reaching $16.27. The company's stock had a trading volume of 1,884,402 shares, compared to its average volume of 4,400,845. The company's fifty day moving average price is $15.88 and its 200-day moving average price is $18.74. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -4.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. PENN Entertainment, Inc. has a 52-week low of $13.25 and a 52-week high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. The business 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 revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted ($0.76) EPS. On average, equities analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

PENN Entertainment Profile

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.