Quantinno Capital Management LP Has $9.48 Million Stock Holdings in PENN Entertainment, Inc. $PENN

Key Points

• Quantinno Capital Management more than doubled its PENN Entertainment position in the first quarter, adding 319,329 shares to own 630,960 shares valued at approximately $9.48 million, or 0.47% of the company.
• Institutional investors and hedge funds collectively own 91.69% of PENN’s outstanding stock, with several other firms also increasing their holdings.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $22.78. PENN shares opened at $20.04, compared with a 52-week range of $11.65 to $22.36.

Quantinno Capital Management LP grew its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 102.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 630,960 shares of the company's stock after acquiring an additional 319,329 shares during the period. Quantinno Capital Management LP owned 0.47% of PENN Entertainment worth $9,483,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PENN. Treasurer of the State of North Carolina lifted its stake in shares of PENN Entertainment by 1.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company's stock valued at $1,245,000 after purchasing an additional 745 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in PENN Entertainment by 3.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company's stock valued at $394,000 after buying an additional 922 shares in the last quarter. IFP Advisors Inc lifted its position in shares of PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company's stock worth $41,000 after buying an additional 1,196 shares during the last quarter. Tidal Investments LLC lifted its position in shares of PENN Entertainment by 8.1% in the second quarter. Tidal Investments LLC now owns 19,689 shares of the company's stock worth $352,000 after buying an additional 1,483 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PENN Entertainment by 13.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,298 shares of the company's stock worth $215,000 after acquiring an additional 1,745 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Analyst Upgrades and Downgrades

PENN has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on PENN Entertainment from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Susquehanna upped their target price on PENN Entertainment from $24.00 to $28.00 and gave the stock a "positive" rating in a research report on Wednesday, July 1st. Wells Fargo & Company lowered their price target on PENN Entertainment from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 14th. Truist Financial lifted their price target on shares of PENN Entertainment from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, Morgan Stanley boosted their price objective on shares of PENN Entertainment from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.78.

PENN Entertainment Trading Up 0.3%

PENN Entertainment stock opened at $20.04 on Wednesday. PENN Entertainment, Inc. has a 52 week low of $11.65 and a 52 week high of $22.36. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $2.68 billion, a PE ratio of -2.98, a PEG ratio of 0.38 and a beta of 1.43. The business's 50-day simple moving average is $20.73 and its 200-day simple moving average is $16.87.

PENN Entertainment Profile

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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