PENN EntertainmentPENN
About: Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
Employees: 23,333
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
55% more call options, than puts
Call options by funds: $292M | Put options by funds: $188M
16% more first-time investments, than exits
New positions opened: 67 | Existing positions closed: 58
13% more funds holding in top 10
Funds holding in top 10: 8 [Q2] → 9 (+1) [Q3]
2% more funds holding
Funds holding: 379 [Q2] → 388 (+9) [Q3]
5.13% less ownership
Funds ownership: 103.68% [Q2] → 98.55% (-5.13%) [Q3]
7% less capital invested
Capital invested by funds: $3.06B [Q2] → $2.84B (-$221M) [Q3]
21% less repeat investments, than reductions
Existing positions increased: 97 | Existing positions reduced: 123
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
JP Morgan Joseph Greff 31% 1-year accuracy 9 / 29 met price target | 45%upside $27 | Overweight Upgraded | 13 Dec 2024 |
Macquarie Chad Beynon 60% 1-year accuracy 24 / 40 met price target | 45%upside $27 | Outperform Maintained | 8 Nov 2024 |
Needham Bernie McTernan 67% 1-year accuracy 84 / 126 met price target | 40%upside $26 | Buy Reiterated | 8 Nov 2024 |
Susquehanna Joseph Stauff 50% 1-year accuracy 13 / 26 met price target | 34%upside $25 | Positive Maintained | 4 Nov 2024 |
Truist Securities Barry Jonas 58% 1-year accuracy 19 / 33 met price target | 24%upside $23 | Buy Maintained | 23 Oct 2024 |
Financial journalist opinion
Based on 5 articles about PENN published over the past 30 days
