Quinn Opportunity Partners LLC Has $1.69 Million Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Quinn Opportunity Partners LLC lessened its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,434 shares of the company's stock after selling 25,500 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.06% of PENN Entertainment worth $1,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DRW Securities LLC acquired a new stake in shares of PENN Entertainment during the 4th quarter worth about $234,000. Raymond James Financial Inc. bought a new position in shares of PENN Entertainment in the fourth quarter worth about $17,804,000. Invesco Ltd. lifted its position in shares of PENN Entertainment by 28.0% during the fourth quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock worth $76,941,000 after purchasing an additional 848,066 shares in the last quarter. Bank of Montreal Can grew its stake in shares of PENN Entertainment by 13.9% during the fourth quarter. Bank of Montreal Can now owns 26,226 shares of the company's stock valued at $520,000 after purchasing an additional 3,201 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $11,280,000. Institutional investors own 91.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PENN. Mizuho upped their price objective on PENN Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Wells Fargo & Company upped their price target on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Morgan Stanley cut their target price on shares of PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, PENN Entertainment presently has a consensus rating of "Hold" and an average price target of $23.28.

PENN Entertainment Stock Performance

Shares of PENN stock traded down $0.02 during trading on Thursday, reaching $14.25. 757,890 shares of the company's stock were exchanged, compared to its average volume of 4,488,896. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The firm's fifty day moving average price is $18.03 and its 200-day moving average price is $19.16. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $2.18 billion, a PE ratio of -4.04, a PEG ratio of 1.55 and a beta of 1.96.

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.