Contrarius Group Holdings Ltd Invests $34.99 Million in PENN Entertainment, Inc. (NASDAQ:PENN)

Contrarius Group Holdings Ltd purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,765,598 shares of the company's stock, valued at approximately $34,994,000. PENN Entertainment comprises about 2.1% of Contrarius Group Holdings Ltd's holdings, making the stock its 15th biggest position. Contrarius Group Holdings Ltd owned about 1.16% of PENN Entertainment at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Swiss National Bank grew its stake in PENN Entertainment by 0.6% during the 4th quarter. Swiss National Bank now owns 269,284 shares of the company's stock worth $5,337,000 after buying an additional 1,500 shares during the last quarter. AlphaQuest LLC boosted its holdings in PENN Entertainment by 379.7% in the fourth quarter. AlphaQuest LLC now owns 14,234 shares of the company's stock worth $282,000 after acquiring an additional 11,267 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $272,000. Raymond James Financial Inc. acquired a new position in shares of PENN Entertainment during the fourth quarter valued at about $17,804,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of PENN Entertainment during the fourth quarter valued at about $596,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

NASDAQ PENN traded down $0.02 during mid-day trading on Monday, reaching $17.35. 2,198,560 shares of the stock were exchanged, compared to its average volume of 4,501,516. The company has a market capitalization of $2.65 billion, a P/E ratio of -4.89, a P/E/G ratio of 1.55 and a beta of 2.19. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The business's 50 day moving average is $19.93 and its 200-day moving average is $19.64. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $23.08.

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Analysts Set New Price Targets

PENN has been the topic of several research analyst reports. Macquarie reissued an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. Jefferies Financial Group boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a report on Friday, January 3rd. Needham & Company LLC cut 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. Mizuho lifted their price target on PENN Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Finally, JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.