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Penn Entertainment (PENN) shares soared over 18% in intraday trading Friday after an advisory firm and activist investor said the operator of casinos, online gaming, and racetracks should look for a sale.
Penn Entertainment (NASDAQ: PENN ) stock is a hot topic among traders on Friday alongside news that an activist investor sent a letter to its Board of Directors. Investment advisor Donerail Group is behind this letter and it's pushing for the company to sell itself.
LOS ANGELES--(BUSINESS WIRE)--The Donerail Group LP (together with its affiliates, “Donerail” or “we”), a shareholder of PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN), today sent an open letter to the Company's Board of Directors. About Donerail The Donerail Group LP is a Los Angeles-based investment adviser that employs a value-oriented investment lens focusing on special situations and event-driven investments.
PENN Entertainment Inc (NASDAQ:PENN) stock is up 1.1% at $16.26 at last check, despite a downgrade from Bank of America to "neutral" from "buy.
PENN Entertainment (PENN) first-quarter 2024 results are hurt by disappointing performance of its Interactive segment primarily due to an unfavorable outcome from major sporting events.
The on- and offline gaming company posted its first-quarter results. It flipped to a loss on the bottom line and saw a decline in revenue.
The headline numbers for PENN Entertainment (PENN) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
PENN Entertainment (PENN) came out with a quarterly loss of $0.79 per share versus the Zacks Consensus Estimate of a loss of $0.59. This compares to earnings of $0.31 per share a year ago.
Beyond analysts' top -and-bottom-line estimates for PENN Entertainment (PENN), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended March 2024.
PENN Entertainment (PENN) emphasizes strategic investments and product enhancements to drive growth. However, an uncertain macroeconomic environment is a concern.