45,977 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Purchased by AXQ Capital LP

AXQ Capital LP purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 45,977 shares of the company's stock, valued at approximately $911,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after buying an additional 1,052 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment in the 3rd quarter worth $56,000. Modus Advisors LLC bought a new position in PENN Entertainment in the 4th quarter worth $63,000. Lee Danner & Bass Inc. purchased a new position in PENN Entertainment during the fourth quarter valued at $92,000. Finally, KBC Group NV grew its holdings in PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company's stock valued at $109,000 after purchasing an additional 1,470 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PENN. Needham & Company LLC lowered their price objective 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. Jefferies Financial Group upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. Mizuho increased their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Finally, Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on 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 Price Performance

Shares of PENN stock traded up $0.03 on Wednesday, reaching $17.36. The company's stock had a trading volume of 3,143,007 shares, compared to its average volume of 4,439,583. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -4.89, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The stock's fifty day simple moving average is $19.86 and its 200-day simple moving average is $19.63. 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 1 year low of $13.50 and a 1 year high of $23.08.

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.