Diametric Capital LP Decreases Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Diametric Capital LP lowered its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 72.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,991 shares of the company's stock after selling 142,001 shares during the quarter. PENN Entertainment comprises approximately 0.7% of Diametric Capital LP's investment portfolio, making the stock its 29th biggest position. Diametric Capital LP's holdings in PENN Entertainment were worth $1,090,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PENN. IFP Advisors Inc boosted its stake in shares of PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after purchasing an additional 1,052 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of PENN Entertainment during the fourth quarter worth about $63,000. Lee Danner & Bass Inc. acquired a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $92,000. KBC Group NV raised its holdings in PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock valued at $109,000 after buying an additional 1,470 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in PENN Entertainment by 914.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after buying an additional 5,852 shares during the period. Institutional investors own 91.69% of the company's stock.

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PENN Entertainment Stock Up 6.4 %

PENN Entertainment stock traded up $1.03 during trading on Wednesday, hitting $17.17. 3,662,869 shares of the company were exchanged, compared to its average volume of 4,508,181. 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 company has a market capitalization of $2.63 billion, a P/E ratio of -4.84, a PEG ratio of 1.55 and a beta of 2.19. The business's 50 day moving average is $19.45 and its 200 day moving average is $19.56. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $23.08.

Analysts Set New Price Targets

A number of brokerages have recently commented on PENN. Needham & Company LLC cut their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Macquarie reissued an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, February 28th. StockNews.com raised PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a report on Thursday, January 16th. Finally, Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research 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 stock. Based on data from MarketBeat.com, the stock currently 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.