PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 21.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,374 shares of the company’s stock after selling 4,918 shares during the period. HighTower Advisors LLC’s holdings in PENN Entertainment were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of PENN Entertainment by 12.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,282,024 shares of the company’s stock worth $24,179,000 after buying an additional 146,645 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PENN Entertainment by 22.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,615 shares of the company’s stock worth $483,000 after acquiring an additional 4,648 shares during the last quarter. Verition Fund Management LLC boosted its stake in PENN Entertainment by 367.2% in the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock valued at $8,543,000 after acquiring an additional 356,029 shares during the period. Point72 Hong Kong Ltd grew its holdings in shares of PENN Entertainment by 4,965.1% during the third quarter. Point72 Hong Kong Ltd now owns 52,728 shares of the company’s stock valued at $994,000 after purchasing an additional 51,687 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PENN Entertainment during the 3rd quarter worth approximately $216,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Down 3.6 %

Shares of PENN stock opened at $16.31 on Tuesday. 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 stock has a market cap of $2.49 billion, a PE ratio of -4.59, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The business’s fifty day moving average is $19.60 and its 200-day moving average is $19.61. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $23.08.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Stifel Nicolaus lowered their price target on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Mizuho lifted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Needham & Company LLC decreased their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Jefferies Financial Group lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.56.

PENN Entertainment 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.