SG Americas Securities LLC Purchases New Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

SG Americas Securities LLC purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,402,889 shares of the company’s stock, valued at approximately $27,805,000. SG Americas Securities LLC owned about 0.92% of PENN Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in PENN Entertainment by 4,624.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after purchasing an additional 1,425,274 shares during the period. Assenagon Asset Management S.A. increased its position in PENN Entertainment by 1,051.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after purchasing an additional 1,297,976 shares during the period. Armistice Capital LLC increased its position in PENN Entertainment by 91.9% during the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after purchasing an additional 1,266,023 shares during the period. Long Focus Capital Management LLC purchased a new position in PENN Entertainment during the 2nd quarter valued at $11,613,000. Finally, DME Capital Management LP increased its position in PENN Entertainment by 11.9% during the 2nd quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock valued at $98,620,000 after purchasing an additional 540,630 shares during the period. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

PENN opened at $20.21 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company’s 50-day simple moving average is $19.91 and its two-hundred day simple moving average is $19.39. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $24.57.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts forecast that PENN Entertainment, Inc. will post -1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PENN. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $27.00 in a research report on Friday, December 13th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Mizuho reduced their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group upped their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Finally, Truist Financial reduced their target price on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.44.

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.