Blue Trust Inc. Sells 4,524 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Blue Trust Inc. trimmed its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 44.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,665 shares of the company’s stock after selling 4,524 shares during the quarter. Blue Trust Inc.’s holdings in PENN Entertainment were worth $112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Entropy Technologies LP increased its stake in PENN Entertainment by 49.5% in the 4th quarter. Entropy Technologies LP now owns 46,486 shares of the company’s stock worth $921,000 after buying an additional 15,394 shares during the period. Total Clarity Wealth Management Inc. bought a new position in PENN Entertainment in the 4th quarter worth about $211,000. KBC Group NV increased its position in shares of PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company’s stock worth $109,000 after acquiring an additional 1,470 shares during the period. Hedges Asset Management LLC raised its stake in shares of PENN Entertainment by 2.2% during the fourth quarter. Hedges Asset Management LLC now owns 204,650 shares of the company’s stock valued at $4,056,000 after acquiring an additional 4,400 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $27,805,000. 91.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Susquehanna reduced their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $27.00 in a research note on Friday, December 13th. Macquarie raised their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, PENN Entertainment has an average rating of “Hold” and a consensus price target of $23.50.

PENN Entertainment Stock Down 1.9 %

PENN Entertainment stock opened at $20.91 on Friday. The business has a fifty day moving average price of $20.09 and a 200-day moving average price of $19.66. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $23.08. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -5.89, a PEG ratio of 1.58 and a beta of 2.09. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

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.