HighTower Advisors LLC Cuts Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

HighTower Advisors LLC trimmed its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,374 shares of the company’s stock after selling 4,918 shares during the quarter. HighTower Advisors LLC’s holdings in PENN Entertainment were worth $364,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AlphaQuest LLC grew its stake in shares of PENN Entertainment by 379.7% during the 4th quarter. AlphaQuest LLC now owns 14,234 shares of the company’s stock valued at $282,000 after buying an additional 11,267 shares during the period. Inceptionr LLC purchased a new stake in PENN Entertainment during the fourth quarter valued at about $272,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment during the fourth quarter worth about $17,804,000. Proficio Capital Partners LLC acquired a new stake in PENN Entertainment during the fourth quarter worth about $596,000. Finally, M&T Bank Corp raised its holdings in shares of PENN Entertainment by 4.7% in the 4th quarter. M&T Bank Corp now owns 13,044 shares of the company’s stock worth $259,000 after purchasing an additional 584 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Down 3.6 %

Shares of NASDAQ:PENN opened at $16.31 on Tuesday. The firm 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 company has a fifty day simple moving average of $19.60 and a 200 day simple moving average of $19.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $23.08.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PENN shares. Mizuho increased their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $27.00 in a report on Friday, December 13th. StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Jefferies Financial Group raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and a consensus target price of $23.56.

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.