Jump Financial LLC Reduces Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Jump Financial LLC lessened its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 79.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,000 shares of the company's stock after selling 344,522 shares during the period. Jump Financial LLC owned approximately 0.06% of PENN Entertainment worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after purchasing an additional 1,052 shares in the last quarter. Modus Advisors LLC bought a new stake in PENN Entertainment in the 4th quarter worth approximately $63,000. Lee Danner & Bass Inc. purchased a new stake in PENN Entertainment in the fourth quarter worth approximately $92,000. KBC Group NV grew its position in PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company's stock valued at $109,000 after acquiring an additional 1,470 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after acquiring an additional 5,852 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded up $0.77 during trading on Friday, reaching $15.92. 1,103,137 shares of the stock traded hands, compared to its average volume of 4,538,636. 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 company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -4.48, a P/E/G ratio of 1.55 and a beta of 1.96. PENN Entertainment, Inc. has a 52-week low of $13.25 and a 52-week high of $23.08. The business has a fifty day simple moving average of $17.12 and a two-hundred day simple moving average of $19.00.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Susquehanna reduced their price target 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. StockNews.com upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Macquarie reiterated an "outperform" rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, February 28th. Finally, Stifel Nicolaus decreased their target price on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $23.09.

PENN Entertainment Company Profile

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.