Orvieto Partners L.P. Buys Shares of 340,000 PENN Entertainment, Inc. (NASDAQ:PENN)

Orvieto Partners L.P. acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 340,000 shares of the company's stock, valued at approximately $6,739,000. PENN Entertainment accounts for about 5.7% of Orvieto Partners L.P.'s holdings, making the stock its 4th biggest position. Orvieto Partners L.P. owned about 0.22% of PENN Entertainment as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PENN. Contrarius Group Holdings Ltd acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $34,994,000. Norges Bank acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $27,901,000. SG Americas Securities LLC acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $27,805,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment in the 4th quarter valued at $17,804,000. Finally, Invesco Ltd. grew its position in PENN Entertainment by 28.0% in the 4th 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 period. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Stock Performance

PENN Entertainment stock traded down $0.28 during midday trading on Tuesday, reaching $15.55. The stock had a trading volume of 702,297 shares, compared to its average volume of 4,441,303. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The firm's 50-day moving average price is $16.89 and its 200 day moving average price is $18.97. The firm has a market capitalization of $2.38 billion, a PE ratio of -4.39, a P/E/G ratio of 1.55 and a beta of 1.96. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Jefferies Financial Group lifted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, January 3rd. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price target on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Finally, Needham & Company LLC dropped their price objective on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $23.09.

PENN Entertainment 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.