Arrowstreet Capital Limited Partnership boosted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,323,554 shares of the company's stock after buying an additional 196,480 shares during the period. Arrowstreet Capital Limited Partnership owned 1.74% of PENN Entertainment worth $34,923,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in PENN Entertainment by 330.0% in the fourth quarter. SG Americas Securities LLC now owns 149,710 shares of the company's stock worth $2,208,000 after purchasing an additional 114,892 shares in the last quarter. CWM LLC boosted its holdings in shares of PENN Entertainment by 1,055.9% in the 4th quarter. CWM LLC now owns 92,056 shares of the company's stock valued at $1,358,000 after buying an additional 84,092 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of PENN Entertainment in the 4th quarter worth approximately $6,376,000. Fifth Third Bancorp raised its stake in shares of PENN Entertainment by 294.5% during the 1st quarter. Fifth Third Bancorp now owns 82,729 shares of the company's stock worth $1,243,000 after acquiring an additional 61,757 shares in the last quarter. Finally, MYDA Advisors LLC bought a new position in shares of PENN Entertainment during the 4th quarter worth approximately $369,000. Institutional investors own 91.69% of the company's stock.
PENN Entertainment Stock Performance
PENN opened at $21.08 on Wednesday. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $22.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. The firm has a market capitalization of $2.82 billion, a PE ratio of -3.14, a P/E/G ratio of 0.40 and a beta of 1.42. The firm has a 50 day moving average of $20.36 and a two-hundred day moving average of $16.65.
Analyst Upgrades and Downgrades
PENN has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of PENN Entertainment in a report on Thursday, July 2nd. Morgan Stanley increased their price objective on PENN Entertainment from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Zacks Research raised PENN Entertainment from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Citizens Jmp boosted their target price on PENN Entertainment from $24.00 to $26.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 16th. Finally, Citigroup raised PENN Entertainment from a "hold" rating to an "overweight" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.78.
Check Out Our Latest Stock Report on PENN Entertainment
About PENN Entertainment
(
Free Report)
PENN Entertainment, Inc NASDAQ: PENN is a leading operator of gaming and racing facilities in the United States. The company's business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.
The company's portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.
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