Maverick Capital Ltd. Invests $959,000 in PENN Entertainment, Inc. $PENN

Maverick Capital Ltd. bought a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 63,799 shares of the company’s stock, valued at approximately $959,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP acquired a new position in PENN Entertainment in the 4th quarter worth $36,000. IFP Advisors Inc grew its stake in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after acquiring an additional 1,196 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of PENN Entertainment during the third quarter worth about $54,000. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $47,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of PENN Entertainment by 385.1% in the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after acquiring an additional 2,954 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PENN has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a report on Wednesday, June 24th. Citigroup raised shares of PENN Entertainment from a “hold” rating to an “overweight” rating in a research report on Thursday, July 23rd. Bank of America lifted their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley increased their price objective on shares of PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company decreased their price objective on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PENN Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $22.78.

PENN Entertainment Stock Down 0.5%

PENN stock opened at $21.08 on Wednesday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -3.14, a PEG ratio of 0.40 and a beta of 1.42. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36. The firm has a fifty day moving average price of $20.36 and a two-hundred day moving average price of $16.65. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82.

PENN Entertainment Profile

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.