Steward Partners Investment Advisory LLC Has $94,000 Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Steward Partners Investment Advisory LLC trimmed its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,760 shares of the company’s stock after selling 2,897 shares during the period. Steward Partners Investment Advisory LLC’s holdings in PENN Entertainment were worth $94,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PENN. SG Americas Securities LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth about $27,805,000. ING Groep NV bought a new position in PENN Entertainment during the 4th quarter worth approximately $9,910,000. Jennison Associates LLC grew its position in shares of PENN Entertainment by 103.9% during the 3rd quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock worth $14,494,000 after buying an additional 391,640 shares during the period. Verition Fund Management LLC grew its position in shares of PENN Entertainment by 367.2% during the 3rd quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after buying an additional 356,029 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock worth $4,697,000 after buying an additional 176,844 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $17.26 on Tuesday. The stock has a 50 day moving average price of $20.10 and a two-hundred day moving average price of $19.69. 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 company has a market capitalization of $2.64 billion, a P/E ratio of -4.86, a PEG ratio of 1.55 and a beta of 2.19. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $23.08.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PENN shares. Wells Fargo & Company lifted their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Mizuho lifted their target price on PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Macquarie restated an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, February 28th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Finally, Stifel Nicolaus lifted their target price on PENN Entertainment from $20.00 to $21.00 and gave the company a “hold” rating in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.69.

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.