US Bancorp DE Lowers Position in PENN Entertainment, Inc. (NASDAQ:PENN)

US Bancorp DE lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 50.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,708 shares of the company’s stock after selling 3,815 shares during the quarter. US Bancorp DE’s holdings in PENN Entertainment were worth $73,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State of New Jersey Common Pension Fund D bought a new stake in PENN Entertainment during the third quarter valued at approximately $1,921,000. Natixis Advisors LLC lifted its holdings in shares of PENN Entertainment by 25.3% during the 3rd quarter. Natixis Advisors LLC now owns 303,655 shares of the company’s stock worth $5,727,000 after acquiring an additional 61,285 shares during the last quarter. Quest Partners LLC purchased a new position in PENN Entertainment in the third quarter worth $56,000. Pathstone Holdings LLC increased its stake in PENN Entertainment by 10.2% in the third quarter. Pathstone Holdings LLC now owns 394,244 shares of the company’s stock valued at $7,435,000 after acquiring an additional 36,347 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in PENN Entertainment by 103.9% in the third quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock valued at $14,494,000 after acquiring an additional 391,640 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PENN. Needham & Company LLC cut their price objective on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.69.

PENN Entertainment Trading Up 1.0 %

PENN opened at $17.26 on Tuesday. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $23.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day simple moving average of $20.10 and a two-hundred day simple moving average of $19.69. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -4.86, a PEG ratio of 1.55 and a beta of 2.19.

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.