News

Fintel reports that on June 21, 2024, Craig-Hallum upgraded their outlook for PENN Entertainment (NasdaqGS:PENN) from Hold to Buy.

Analyst Price Forecast Suggests 12.13% Upside

As of June 12, 2024, the average one-year price target for PENN Entertainment is 22.47. The forecasts range from a low of 17.17 to a high of $33.60. The average price target represents an increase of 12.13% from its latest reported closing price of 20.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for PENN Entertainment is 6,754MM, an increase of 7.27%. The projected annual non-GAAP EPS is 2.23.

What is the Fund Sentiment?

There are 723 funds or institutions reporting positions in PENN Entertainment. This is an decrease of 39 owner(s) or 5.12% in the last quarter. Average portfolio weight of all funds dedicated to PENN is 0.14%, an increase of 7.61%. Total shares owned by institutions increased in the last three months by 5.04% to 160,292K shares.

The put/call ratio of PENN is 0.27, indicating a bullish outlook.

What are Other Shareholders Doing?

HG Vora Capital Management holds 14,500K shares representing 9.70% ownership of the company. No change in the last quarter.

Shapiro Capital Management holds 10,270K shares representing 6.87% ownership of the company. In its prior filing, the firm reported owning 1,265K shares , representing an increase of 87.68%. The firm increased its portfolio allocation in PENN by 453.46% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,778K shares representing 3.20% ownership of the company. In its prior filing, the firm reported owning 4,788K shares , representing a decrease of 0.20%. The firm decreased its portfolio allocation in PENN by 36.32% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 4,638K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 4,607K shares , representing an increase of 0.68%. The firm decreased its portfolio allocation in PENN by 36.57% over the last quarter.

DME Capital Management holds 4,555K shares representing 3.05% ownership of the company.

PENN Entertainment Background Information
(This description is provided by the company.)

With the nation's largest and most diversified regional gaming footprint, including 41 properties across 19 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company's properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L'Auberge. Its wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company's portfolio, as well online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Company's land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The Company's omni-channel approach is bolstered by the mychoice loyalty program, which rewards and recognizes its over 20 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry.

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This story originally appeared on Fintel.

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