State of Tennessee Department of Treasury Sells 17,080 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

State of Tennessee Department of Treasury reduced its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,000 shares of the company's stock after selling 17,080 shares during the period. State of Tennessee Department of Treasury's holdings in PENN Entertainment were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its position in shares of PENN Entertainment by 35.2% during the third quarter. Tidal Investments LLC now owns 14,888 shares of the company's stock worth $281,000 after purchasing an additional 3,879 shares during the period. Modus Advisors LLC purchased a new position in shares of PENN Entertainment in the fourth quarter worth approximately $63,000. Harbor Capital Advisors Inc. lifted its position in shares of PENN Entertainment by 8.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company's stock valued at $11,851,000 after acquiring an additional 46,209 shares in the last quarter. Westside Investment Management Inc. grew its position in PENN Entertainment by 3.2% during the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company's stock worth $393,000 after purchasing an additional 620 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in PENN Entertainment during the 4th quarter valued at $27,805,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN traded down $0.14 during trading hours on Monday, hitting $15.83. 3,768,477 shares of the company's stock were exchanged, compared to its average volume of 4,319,479. The company's 50-day moving average price is $16.46 and its 200-day moving average price is $18.88. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -4.46, a PEG ratio of 1.55 and a beta of 1.96. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PENN shares. Susquehanna reduced their price objective on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, April 15th. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Stifel Nicolaus decreased their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Canaccord Genuity Group reduced their price objective on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a research report on Monday. Finally, Macquarie reaffirmed an "outperform" rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, PENN Entertainment has an average rating of "Hold" and an average price target of $22.97.

About PENN Entertainment

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.