PENN Entertainment, Inc. $PENN Shares Sold by Clearline Capital LP

Clearline Capital LP cut its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 16.6% during the fourth quarter, Holdings Channel reports. The firm owned 187,594 shares of the company’s stock after selling 37,435 shares during the period. Clearline Capital LP’s holdings in PENN Entertainment were worth $2,767,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in shares of PENN Entertainment in the fourth quarter valued at about $36,000. IFP Advisors Inc increased its holdings in shares of PENN Entertainment by 76.2% in the fourth 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 during the period. Triumph Capital Management acquired a new position in shares of PENN Entertainment in the third quarter valued at about $54,000. Modus Advisors LLC acquired a new position in shares of PENN Entertainment in the fourth quarter valued at about $47,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of PENN Entertainment by 33.7% in the third quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock valued at $65,000 after purchasing an additional 825 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $21.23 on Thursday. The company has a current ratio of 0.82, a quick 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 $22.36. The business’s 50 day moving average is $17.60 and its two-hundred day moving average is $15.32. The company has a market capitalization of $2.84 billion, a P/E ratio of -3.16, a P/E/G ratio of 0.70 and a beta of 1.44.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $0.68 earnings per share. PENN Entertainment’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts expect that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Stifel Nicolaus raised their target price on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Citigroup raised their target price on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Benchmark raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a report on Friday, March 27th. Finally, Barclays raised their target price on PENN Entertainment from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and a consensus price target of $20.43.

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.