PENN Entertainment, Inc. $PENN is Kettle Hill Capital Management LLC’s 4th Largest Position

Kettle Hill Capital Management LLC lifted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 129.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,773,390 shares of the company’s stock after purchasing an additional 1,000,830 shares during the quarter. PENN Entertainment accounts for approximately 5.8% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Kettle Hill Capital Management LLC owned 1.33% of PENN Entertainment worth $26,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hill Path Capital LP grew its holdings in shares of PENN Entertainment by 64.4% in the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after purchasing an additional 2,257,000 shares in the last quarter. Invenomic Capital Management LP boosted its stake in PENN Entertainment by 6.9% during the third quarter. Invenomic Capital Management LP now owns 1,569,939 shares of the company’s stock worth $30,237,000 after buying an additional 101,028 shares during the period. SG Americas Securities LLC boosted its stake in PENN Entertainment by 330.0% during the fourth quarter. SG Americas Securities LLC now owns 149,710 shares of the company’s stock worth $2,208,000 after buying an additional 114,892 shares during the period. Sequoia Financial Advisors LLC purchased a new position in PENN Entertainment during the fourth quarter worth $6,376,000. Finally, CWM LLC boosted its stake in PENN Entertainment by 1,055.9% during the fourth quarter. CWM LLC now owns 92,056 shares of the company’s stock worth $1,358,000 after buying an additional 84,092 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 0.7%

NASDAQ:PENN opened at $21.84 on Tuesday. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.17. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The stock has a fifty day simple moving average of $17.33 and a 200-day simple moving average of $15.22. 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 (NASDAQ:PENN) last released its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping 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 business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts anticipate that PENN Entertainment, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on PENN shares. Wells Fargo & Company lifted their price objective on shares of PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 24th. Morgan Stanley lifted their price objective on shares of PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Benchmark raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, March 5th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.