Geode Capital Management LLC Purchases 152,791 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Geode Capital Management LLC increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,500,342 shares of the company's stock after acquiring an additional 152,791 shares during the period. Geode Capital Management LLC owned about 1.64% of PENN Entertainment worth $49,572,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in 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 buying an additional 1,052 shares during the last quarter. Modus Advisors LLC purchased a new position in PENN Entertainment in the fourth quarter worth $63,000. Lee Danner & Bass Inc. bought a new position in PENN Entertainment in the 4th quarter valued at $92,000. KBC Group NV increased its stake in shares of PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after purchasing an additional 1,470 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in 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 acquiring an additional 5,852 shares during the period. Institutional investors own 91.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PENN. Benchmark restated a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. StockNews.com upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Susquehanna lowered their price target on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $23.28.

PENN Entertainment Stock Up 0.5 %

PENN traded up $0.07 on Friday, hitting $14.34. The company had a trading volume of 3,559,191 shares, compared to its average volume of 4,494,228. PENN Entertainment, Inc. has a 52-week low of $13.25 and a 52-week high of $23.08. The stock has a fifty day simple moving average of $17.73 and a 200-day simple moving average of $19.11. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.04, a P/E/G ratio of 1.55 and a beta of 1.96.

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.