LMR Partners LLP Acquires 35,239 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

LMR Partners LLP grew its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 608.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,026 shares of the company's stock after acquiring an additional 35,239 shares during the period. LMR Partners LLP's holdings in PENN Entertainment were worth $813,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after purchasing an additional 1,052 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $92,000. KBC Group NV raised 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 purchasing an additional 1,470 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock valued at $119,000 after purchasing an additional 5,852 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of PENN Entertainment by 51.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock worth $179,000 after buying an additional 3,080 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted 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. StockNews.com upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Needham & Company LLC dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Susquehanna dropped their price objective on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, April 15th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.91.

PENN Entertainment Stock Up 1.3%

Shares of NASDAQ:PENN traded up $0.20 during trading on Friday, reaching $16.01. 3,012,331 shares of the stock traded hands, compared to its average volume of 4,231,297. The stock has a 50-day moving average of $15.75 and a two-hundred day moving average of $18.65. PENN Entertainment, Inc. has a 52-week low of $13.25 and a 52-week high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $2.42 billion, a P/E ratio of -4.51, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.76) earnings per share. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

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.