MYDA Advisors LLC Makes New Investment in PENN Entertainment, Inc. $PENN

MYDA Advisors LLC acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,000 shares of the company’s stock, valued at approximately $369,000.

Other large investors have also recently bought and sold shares of the company. Mariner LLC bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $883,000. NFJ Investment Group LLC raised its position in shares of PENN Entertainment by 7.6% during the 4th quarter. NFJ Investment Group LLC now owns 154,551 shares of the company’s stock valued at $2,280,000 after acquiring an additional 10,963 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $94,000. Marshall Wace LLP raised its position in shares of PENN Entertainment by 187.0% during the 4th quarter. Marshall Wace LLP now owns 413,498 shares of the company’s stock valued at $6,099,000 after acquiring an additional 269,416 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PENN shares. Morgan Stanley upped their target price on shares of PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of PENN Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Citigroup upped their target price on shares of PENN Entertainment from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Stifel Nicolaus upped their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.43.

PENN Entertainment Price Performance

PENN opened at $21.68 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $21.94. The company has a fifty day simple moving average of $17.18 and a 200 day simple moving average of $15.17. The stock has a market cap of $2.90 billion, a P/E ratio of -3.23, a P/E/G ratio of 0.70 and a beta of 1.45.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that PENN Entertainment, Inc. will post 1.01 EPS for the current year.

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.