Tidal Investments LLC Acquires 3,879 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Tidal Investments LLC lifted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 35.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,888 shares of the company’s stock after purchasing an additional 3,879 shares during the period. Tidal Investments LLC’s holdings in PENN Entertainment were worth $281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment during the 3rd quarter worth about $45,000. GAMMA Investing LLC grew its stake in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares during the last quarter. Quest Partners LLC bought a new stake in shares of PENN Entertainment during the third quarter valued at approximately $56,000. International Assets Investment Management LLC raised its position in PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares during the last quarter. Finally, Quarry LP lifted its holdings in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $18.13 on Wednesday. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20. The stock’s 50 day moving average is $19.99 and its 200-day moving average is $19.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -5.11 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts forecast that PENN Entertainment, Inc. will post -1.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PENN. Truist Financial lowered their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Mizuho dropped their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th. StockNews.com upgraded shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Susquehanna lowered their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a report on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, PENN Entertainment has an average rating of “Moderate Buy” and a consensus price target of $23.53.

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.