DME Capital Management LP boosted its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,748,440 shares of the company's stock after purchasing an additional 127,670 shares during the period. PENN Entertainment comprises 5.9% of DME Capital Management LP's investment portfolio, making the stock its 6th biggest position. DME Capital Management LP owned approximately 3.77% of PENN Entertainment worth $113,934,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after buying an additional 1,052 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $92,000. KBC Group NV boosted its holdings in shares of PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after purchasing an additional 1,470 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after purchasing an additional 5,852 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of PENN Entertainment by 51.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock worth $179,000 after purchasing an additional 3,080 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PENN has been the topic of several research reports. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Susquehanna lowered their price objective on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company boosted their price objective on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Finally, Mizuho lowered their price objective on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Monday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of "Hold" and an average target price of $22.91.
Check Out Our Latest Research Report on PENN
PENN Entertainment Stock Performance
Shares of NASDAQ PENN traded up $0.33 during midday trading on Monday, hitting $15.97. 3,736,633 shares of the company's stock were exchanged, compared to its average volume of 4,269,934. The firm has a market cap of $2.41 billion, a P/E ratio of -4.50, a PEG ratio of 1.55 and a beta of 1.81. 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 twelve month low of $13.25 and a twelve month high of $23.08. The stock's 50 day moving average price is $15.97 and its 200-day moving average price is $18.77.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.71 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.76) earnings per share. Equities research analysts anticipate that PENN Entertainment, Inc. will post -1.61 EPS for the current year.
PENN Entertainment Company Profile
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Free Report)
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.
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