Hsbc Holdings PLC Increases Holdings in PENN Entertainment, Inc. $PENN

Hsbc Holdings PLC increased its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 817.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,439 shares of the company’s stock after purchasing an additional 60,982 shares during the quarter. Hsbc Holdings PLC’s holdings in PENN Entertainment were worth $1,031,000 as of its most recent SEC filing.

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

PENN Entertainment Trading Down 0.5%

Shares of NASDAQ:PENN opened at $21.08 on Wednesday. The company has a market capitalization of $2.82 billion, a PE ratio of -3.14, a P/E/G ratio of 0.40 and a beta of 1.42. 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 fifty day simple moving average is $20.36 and its 200-day simple moving average is $16.65.

Analysts Set New Price Targets

PENN has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on shares of PENN Entertainment in a research note on Friday, June 26th. They issued a “buy” rating and a $26.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a report on Wednesday, June 24th. Wells Fargo & Company lowered their price target on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Citigroup raised shares of PENN Entertainment from a “hold” rating to an “overweight” rating in a report on Thursday, July 23rd. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.