Einhorn's Greenlight Underperformed ‘Broken' Stock Market Last Quarter [BNN Bloomberg (Canada)]
PENN Entertainment, Inc. (PENN)
Last penn entertainment, inc. earnings: 2/6 07:00 am
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US:NASDAQ Investor Relations:
pennnationalgaming.gcs-web.com/investor-overview
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Source: BNN Bloomberg
The fund returned 4.9% in the first quarter, net of fees and expenses, compared to a nearly 11% return for the S&P 500 Total Return Index. Even though the first three months of 2024 “seemed like a bull market,” Greenlight said in the letter on Wednesday, “looking at the performance of our long and short portfolios, it is difficult to see where the market was up double digits.” The company added that it is clear now that there was “negative alpha in our long book and positive alpha in our short book.” Greenlight said the market has changed with most investors overlooking valuation, either because of passive money managers, retail traders without formal training or other strategies that choose not to care about valuation. Read more: Einhorn Says Markets ‘Fundamentally Broken' by Passive Investors “From our perspective, the result of this historic shifting of capital is a beautiful opportunity set in which we can invest,” the letter said. The results were still better than the
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PENN
News
- PENN Entertainment, Inc. (NASDAQ: PENN) had its price target lowered by analysts at Wells Fargo & Company from $21.00 to $18.00. They now have an "equal weight" rating on the stock.MarketBeat
- PENN Entertainment, Inc. (NASDAQ:PENN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- PENN Entertainment, Inc. (NASDAQ: PENN) had its "hold" rating re-affirmed by analysts at Benchmark Co..MarketBeat
- PENN Entertainment, Inc. (NASDAQ: PENN) had its price target lowered by analysts at Craig Hallum from $25.00 to $20.00. They now have a "hold" rating on the stock.MarketBeat
- PENN Entertainment, Inc. (NASDAQ: PENN) had its price target lowered by analysts at Barclays PLC from $26.00 to $22.00. They now have an "overweight" rating on the stock.MarketBeat
PENN
Earnings
- 5/2/24 - Miss
PENN
Sec Filings
- 5/2/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/23/24 - Form ARS
- PENN's page on the SEC website