Jump Financial LLC Reduces Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Jump Financial LLC cut its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 79.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,000 shares of the company's stock after selling 344,522 shares during the quarter. Jump Financial LLC owned approximately 0.06% of PENN Entertainment worth $1,744,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PENN. Contrarius Group Holdings Ltd bought a new position in PENN Entertainment in the 4th quarter worth about $34,994,000. Norges Bank bought a new position in PENN Entertainment in the 4th quarter worth about $27,901,000. SG Americas Securities LLC purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at about $27,805,000. Raymond James Financial Inc. bought a new stake in shares of PENN Entertainment during the 4th quarter valued at about $17,804,000. Finally, Invesco Ltd. grew its holdings in shares of PENN Entertainment by 28.0% during the fourth quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock worth $76,941,000 after purchasing an additional 848,066 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PENN has been the subject of a number of research reports. Truist Financial cut their price objective on PENN Entertainment from $23.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Susquehanna lowered their price objective on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley dropped their target price on shares of PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $23.09.

PENN Entertainment Price Performance

PENN Entertainment stock traded down $0.03 during mid-day trading on Thursday, reaching $15.17. 3,569,261 shares of the company's stock traded hands, compared to its average volume of 4,495,455. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a 50 day moving average of $17.28 and a two-hundred day moving average of $19.02. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -4.27, a PEG ratio of 1.55 and a beta of 1.96.

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.