Proficio Capital Partners LLC Purchases New Shares in PENN Entertainment, Inc. (NASDAQ:PENN)

Proficio Capital Partners LLC bought a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 30,067 shares of the company's stock, valued at approximately $596,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in PENN Entertainment by 244.7% during the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company's stock worth $4,697,000 after acquiring an additional 176,844 shares during the period. Quantbot Technologies LP boosted its position in shares of PENN Entertainment by 84.7% during the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company's stock worth $3,925,000 after buying an additional 95,423 shares during the period. Verition Fund Management LLC increased its position in PENN Entertainment by 367.2% in the 3rd 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. Harbor Capital Advisors Inc. raised its stake in PENN Entertainment by 8.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company's stock valued at $11,851,000 after acquiring an additional 46,209 shares in the last quarter. Finally, ING Groep NV acquired a new stake in PENN Entertainment in the 4th quarter valued at about $9,910,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PENN shares. Mizuho lifted their target price on PENN Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Benchmark restated a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. StockNews.com upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of PENN Entertainment from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $19.00 to $27.00 in a research report on Friday, December 13th. Finally, Needham & Company LLC dropped their target price on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Ten 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, the stock presently has an average rating of "Hold" and a consensus price target of $23.56.

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PENN Entertainment Stock Performance

PENN stock traded up $0.07 on Tuesday, reaching $17.42. 981,141 shares of the company were exchanged, compared to its average volume of 4,501,363. The firm has a market capitalization of $2.66 billion, a PE ratio of -4.90, a PEG ratio of 1.55 and a beta of 2.19. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08. The stock's fifty day moving average price is $19.93 and its 200 day moving average price is $19.64.

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.