PENN Entertainment, Inc. $PENN Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,760 shares of the company’s stock after selling 34,789 shares during the quarter. Empowered Funds LLC’s holdings in PENN Entertainment were worth $7,361,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PENN. Quarry LP purchased a new stake in PENN Entertainment during the 4th quarter worth approximately $36,000. IFP Advisors Inc increased its stake in PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after purchasing an additional 1,196 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of PENN Entertainment in the fourth quarter worth $47,000. Triumph Capital Management purchased a new position in shares of PENN Entertainment in the third quarter worth $54,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after buying an additional 2,954 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Up 0.1%

PENN stock opened at $20.53 on Friday. The firm’s fifty day simple moving average is $20.61 and its 200-day simple moving average is $16.77. The company has a market capitalization of $2.75 billion, a P/E ratio of -3.06, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. 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, Inc. has a 12 month low of $11.65 and a 12 month high of $22.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PENN shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a report on Friday, April 24th. Citigroup raised PENN Entertainment from a “hold” rating to an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. Mizuho increased their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company reduced their price objective on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.

PENN Entertainment Company 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.