Blue Trust Inc. Reduces Its Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

February 05, 2025 12:28 AM PST | By Team Kalkine Media

Blue Trust Inc. Reduces Its Investment in PENN Entertainment, Inc. (NASDAQ:PENN) — Image source: Shutterstock

Institutional Holdings and Market Movements

In recent months, various hedge funds and institutional investors have made significant adjustments to their holdings in PENN Entertainment, Inc. Notably, Blue Trust Inc. reduced its position by 9.9% in the fourth quarter. As of the latest filings, they hold 9,180 shares valued at approximately $173,000. This move is part of a broader trend where institutions like Algert Global LLC and Creative Planning have also bought or sold shares, reflecting shifting investment strategies.

Meanwhile, companies such as GAMMA Investing LLC notably increased their stake by 88.5% during the third quarter. Collectively, hedge funds and institutional entities own a substantial 91.69% of PENN Entertainment’s shares, highlighting a strong institutional interest and influence in the company's market performance.

Financial Performance

Recently, PENN Entertainment's stock opened at $20.90, displaying indicators like a quick ratio and current ratio of 0.94 and a debt-to-equity ratio standing at 2.34. Despite a market cap of $3.19 billion, the company faces challenges, as evidenced by a P/E ratio of -5.89 and a negative return on equity of 14.44%. While the stock's 52-week range has seen lows of $13.50 and highs of $23.81, moving averages suggest some stability in recent months.

Operational Scope and Expansion

PENN Entertainment continues to develop a wide array of offerings, encompassing integrated entertainment, sports content, and casino gaming. The company operates across diverse geographical areas, segmented into Northeast, South, West, Midwest, and Interactive sectors. This includes online sports betting and iCasino operations under notable brands like Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino.

The company's strategic initiatives aim to capitalize on expanding digital market trends and consumer interest in diversified gaming experiences. This operational breadth is pivotal as PENN Entertainment navigates the current fiscal landscape and aims for growth despite recent financial setbacks.

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