Benchstone Capital Management LP purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 838,203 shares of the company's stock, valued at approximately $16,613,000. PENN Entertainment comprises 1.7% of Benchstone Capital Management LP's portfolio, making the stock its 29th largest position. Benchstone Capital Management LP owned about 0.55% of PENN Entertainment at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Contrarius Group Holdings Ltd purchased a new stake in PENN Entertainment during the fourth quarter valued at about $34,994,000. Norges Bank purchased a new stake in PENN Entertainment during the 4th quarter valued at about $27,901,000. SG Americas Securities LLC bought a new position in PENN Entertainment during the 4th quarter worth approximately $27,805,000. Raymond James Financial Inc. purchased a new position in PENN Entertainment in the 4th quarter worth approximately $17,804,000. Finally, Invesco Ltd. lifted its position in PENN Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock valued at $76,941,000 after purchasing an additional 848,066 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.
PENN Entertainment Trading Up 2.8 %
Shares of NASDAQ PENN opened at $15.97 on Friday. PENN Entertainment, Inc. has a 1 year low of $13.25 and a 1 year high of $23.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50-day moving average of $16.46 and a 200 day moving average of $18.88. The stock has a market cap of $2.41 billion, a P/E ratio of -4.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.96.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Macquarie reiterated an "outperform" rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Truist Financial lowered their price objective on shares of PENN Entertainment from $23.00 to $20.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus reduced their price target on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Finally, Susquehanna cut their price objective on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, April 15th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.77.
Get Our Latest Analysis on PENN Entertainment
PENN Entertainment Profile
(
Free Report)
PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.
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