Bryce Point Capital LLC Takes $531,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Bryce Point Capital LLC purchased a new stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,796 shares of the company's stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC boosted its stake in shares of PENN Entertainment by 1,406.7% during the 4th quarter. Headlands Technologies LLC now owns 38,993 shares of the company's stock worth $773,000 after acquiring an additional 36,405 shares during the period. Geode Capital Management LLC grew its stake in PENN Entertainment by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company's stock worth $49,572,000 after buying an additional 152,791 shares in the last quarter. National Bank of Canada FI boosted its position in shares of PENN Entertainment by 49,434.2% during the 4th quarter. National Bank of Canada FI now owns 500,791 shares of the company's stock worth $9,926,000 after acquiring an additional 499,780 shares in the last quarter. Alliancebernstein L.P. increased its stake in PENN Entertainment by 23.8% in the fourth quarter. Alliancebernstein L.P. now owns 44,469 shares of the company's stock valued at $881,000 after acquiring an additional 8,545 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of PENN Entertainment by 914.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock valued at $119,000 after purchasing an additional 5,852 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

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PENN Entertainment Trading Up 18.4 %

NASDAQ PENN traded up $2.53 during mid-day trading on Wednesday, reaching $16.28. 6,351,513 shares of the stock were exchanged, compared to its average volume of 4,565,125. The stock has a market cap of $2.49 billion, a P/E ratio of -4.59, a P/E/G ratio of 1.55 and a beta of 1.96. 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 one year low of $13.25 and a one year high of $23.08. The stock has a 50 day simple moving average of $18.68 and a 200-day simple moving average of $19.32.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Macquarie restated an "outperform" rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. Wells Fargo & Company upped their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Finally, Mizuho raised their price objective on PENN Entertainment from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.