XTX Topco Ltd Raises Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

XTX Topco Ltd lifted its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 2.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,362 shares of the company’s stock after purchasing an additional 641 shares during the period. XTX Topco Ltd’s holdings in PENN Entertainment were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

PENN Entertainment Trading Up 3.9 %

Shares of PENN stock opened at $20.79 on Friday. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average price is $19.97 and its 200-day moving average price is $19.13. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -5.86 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Macquarie lifted their target price on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial lowered their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley lowered their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” 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.