Jupiter Topco LLC Purchases New Holdings in PENN Entertainment, Inc. $PENN

Jupiter Topco LLC acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 44,862 shares of the company’s stock, valued at approximately $959,000.

A number of other institutional investors have also recently modified their holdings of the stock. Ieq Capital LLC acquired a new position in PENN Entertainment in the second quarter valued at about $3,190,000. Whitebox Advisors LLC bought a new position in PENN Entertainment in the 1st quarter valued at about $737,000. Assenagon Asset Management S.A. increased its holdings in PENN Entertainment by 47.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 180,310 shares of the company’s stock valued at $3,851,000 after buying an additional 58,174 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of PENN Entertainment in the 2nd quarter valued at approximately $16,714,000. Finally, Deutsche Bank AG bought a new stake in shares of PENN Entertainment during the 2nd quarter worth approximately $3,911,000. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on PENN shares. Susquehanna increased their price target on shares of PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, July 1st. Wells Fargo & Company cut their target price 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. The Goldman Sachs Group assumed coverage on PENN Entertainment in a report on Friday, June 26th. They issued a “buy” rating and a $26.00 target price on the stock. Citizens Jmp boosted their price target on PENN Entertainment from $24.00 to $26.00 and gave the stock a “market outperform” rating in a report on Thursday, July 16th. Finally, Benchmark raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $17.07 on Friday. The firm’s fifty day moving average price is $19.69 and its two-hundred day moving average price is $17.62. The stock has a market cap of $2.29 billion, a PE ratio of -2.68, a PEG ratio of 0.44 and a beta of 1.38. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.89 and a current ratio of 0.89. PENN Entertainment, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $22.36.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned ($0.12) EPS. PENN Entertainment’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that PENN Entertainment, Inc. will post 1.19 EPS for the current fiscal 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.