PENN Entertainment (PENN)

• Market cap: $3.19B
• 1 day: -1.88%
• 5 days: -9.09%
• 1 month: 1.26%
• 3 months: 3.41%
• 6 months: 5.82%
• Year to date: 8.68%
• 1 year: 20.03%
• 5 years: -44.70%
• 10 years: 26.19%
• Sector: Consumer Discretionary
• Industry: Hotels & Motels

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 Q4 regulatory filings by fund managers ($100M+ AUM)

42% more call options, than puts

Call options by funds: $310M | Put options by funds: $218M

7% more capital invested

Capital invested by funds: $2.86B [Q3] → $3.06B (+$202M) [Q4]

1.85% more ownership

Funds ownership: 99.33% [Q3] → 101.18% (+1.85%) [Q4]

6% less funds holding

Funds holding: 391 [Q3] → 367 (-24) [Q4]

11% less first-time investments, than exits

New positions opened: 56 | Existing positions closed: 63

22% less funds holding in top 10

Funds holding in top 10: 9 [Q3] → 7 (-2) [Q4]

27% less repeat investments, than reductions

Existing positions increased: 95 | Existing positions reduced: 130

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $21 0% upside
• Avg. target: $23 12% upside
• High target: $27 29% upside

3 analyst ratings

• positive: 1 33%
• neutral: 2 67%
• negative: 0 0%

Stifel Steven Wieczynski 70% 1-year accuracy 21 / 30 met price target	0% upside $21	Hold Maintained	11 Feb 2025
Jefferies David Katz 61% 1-year accuracy 14 / 23 met price target	5% upside $22	Hold Maintained	3 Jan 2025
JP Morgan Joseph Greff 42% 1-year accuracy 11 / 26 met price target	29% upside $27	Overweight Upgraded	13 Dec 2024