AXQ Capital LP Purchases New Holdings in PENN Entertainment, Inc. $PENN

AXQ Capital LP purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,169 shares of the company’s stock, valued at approximately $831,000.

Several other large investors also recently made changes to their positions in the stock. Cloud Capital Management LLC acquired a new position in PENN Entertainment during the third quarter worth $54,000. GAMMA Investing LLC grew its position in shares of PENN Entertainment by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after acquiring an additional 556 shares during the period. Jones Financial Companies Lllp increased its stake in shares of PENN Entertainment by 33.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after purchasing an additional 825 shares during the last quarter. CWM LLC raised its holdings in shares of PENN Entertainment by 89.6% in the 3rd quarter. CWM LLC now owns 7,964 shares of the company’s stock valued at $153,000 after purchasing an additional 3,764 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in PENN Entertainment by 20.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,358 shares of the company’s stock valued at $149,000 after purchasing an additional 1,446 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

PENN has been the topic of a number of recent analyst reports. Mizuho set a $19.00 price target on PENN Entertainment in a research report on Monday, February 2nd. Jefferies Financial Group reissued a “hold” rating and set a $17.00 target price on shares of PENN Entertainment in a report on Wednesday, December 24th. Wells Fargo & Company started coverage on PENN Entertainment in a research note on Tuesday, November 18th. They issued an “underweight” rating and a $15.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of PENN Entertainment in a research report on Monday, December 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.67.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $12.17 on Tuesday. The company’s 50 day moving average price is $13.82 and its two-hundred day moving average price is $16.01. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $22.13. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.65. The firm has a market cap of $1.62 billion, a PE ratio of -1.92, a PEG ratio of 0.44 and a beta of 1.39.

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.