Hedges Asset Management LLC Has $4.06 Million Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Hedges Asset Management LLC increased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 204,650 shares of the company’s stock after purchasing an additional 4,400 shares during the quarter. PENN Entertainment accounts for 2.7% of Hedges Asset Management LLC’s holdings, making the stock its 7th biggest holding. Hedges Asset Management LLC’s holdings in PENN Entertainment were worth $4,056,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. DME Capital Management LP increased its position in PENN Entertainment by 11.9% during the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock valued at $98,620,000 after acquiring an additional 540,630 shares during the last quarter. Earnest Partners LLC grew its holdings in PENN Entertainment by 4.6% during the 2nd quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock valued at $79,703,000 after purchasing an additional 179,813 shares during the last quarter. Armistice Capital LLC raised its position in PENN Entertainment by 91.9% in the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock worth $51,156,000 after purchasing an additional 1,266,023 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in PENN Entertainment by 4,624.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock worth $28,183,000 after purchasing an additional 1,425,274 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of PENN Entertainment by 1,051.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after buying an additional 1,297,976 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Down 1.6 %

NASDAQ:PENN opened at $19.89 on Friday. The company’s 50-day simple moving average is $19.89 and its 200-day simple moving average is $19.39. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $24.57.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm earned $1.21 earnings per share. PENN Entertainment’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that PENN Entertainment, Inc. will post -1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

PENN has been the topic of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Bank of America assumed coverage on PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price for the company. Jefferies Financial Group upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Truist Financial decreased their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Susquehanna reduced their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and a consensus target price of $23.44.

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.