Louisiana State Employees Retirement System Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Louisiana State Employees Retirement System acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,600 shares of the company’s stock, valued at approximately $1,108,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Earnest Partners LLC boosted its position in PENN Entertainment by 11.1% in the third quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock worth $62,380,000 after purchasing an additional 271,254 shares during the last quarter. Sei Investments Co. boosted its position in PENN Entertainment by 13.9% in the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at $19,792,000. Assenagon Asset Management S.A. lifted its position in shares of PENN Entertainment by 443.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 714,900 shares of the company’s stock valued at $16,407,000 after buying an additional 583,388 shares during the last quarter. Finally, Matthew 25 Management Corp lifted its position in shares of PENN Entertainment by 32.7% during the 3rd quarter. Matthew 25 Management Corp now owns 465,000 shares of the company’s stock valued at $10,672,000 after buying an additional 114,485 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

PENN has been the topic of a number of recent research reports. Truist Financial raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday. Mizuho initiated coverage on PENN Entertainment in a research report on Tuesday, March 26th. They set a “buy” rating and a $29.00 price target on the stock. Morgan Stanley upped their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Stifel Nicolaus dropped their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PENN Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $17.43 on Wednesday. The firm has a market capitalization of $2.66 billion, a P/E ratio of -4.79 and a beta of 2.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The stock’s 50-day simple moving average is $17.75 and its two-hundred day simple moving average is $21.42. PENN Entertainment, Inc. has a twelve month low of $15.88 and a twelve month high of $31.63.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. As a group, equities analysts anticipate that PENN Entertainment, Inc. will post -0.86 EPS for the current fiscal year.

PENN Entertainment Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.