Proficio Capital Partners LLC Invests $596,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

Proficio Capital Partners LLC acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,067 shares of the company's stock, valued at approximately $596,000.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC purchased a new position in PENN Entertainment in the fourth quarter worth approximately $27,805,000. ING Groep NV acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at $9,910,000. Verition Fund Management LLC raised its holdings in shares of 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 purchasing an additional 356,029 shares in the last quarter. Janus Henderson Group PLC lifted 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 purchasing an additional 176,844 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PENN Entertainment by 12.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,282,024 shares of the company's stock worth $24,179,000 after purchasing an additional 146,645 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN traded down $0.24 on Thursday, reaching $17.12. 2,911,623 shares of the company were exchanged, compared to its average volume of 4,433,880. The company has a 50-day moving average of $19.81 and a 200-day moving average of $19.62. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -4.82, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $23.08.

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Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, January 3rd. Needham & Company LLC lowered their price target on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Wells Fargo & Company upped their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Finally, StockNews.com raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Ten research 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 presently has an average rating of "Hold" and a consensus price target of $23.56.

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.