Legal & General Group Plc Sells 20,354 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Legal & General Group Plc trimmed its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 395,750 shares of the company's stock after selling 20,354 shares during the quarter. Legal & General Group Plc owned 0.26% of PENN Entertainment worth $7,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. IFP Advisors Inc boosted its position in PENN Entertainment by 201.5% in the fourth 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 in the last quarter. Modus Advisors LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at $63,000. Lee Danner & Bass Inc. bought a new stake in PENN Entertainment during the 4th quarter worth about $92,000. KBC Group NV increased its position 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 acquiring an additional 1,470 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after purchasing an additional 5,852 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley decreased their price objective on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Susquehanna dropped their price objective on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group lifted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their target price 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. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.28.

PENN Entertainment Trading Down 3.6 %

Shares of PENN traded down $0.51 during mid-day trading on Monday, reaching $13.83. 4,422,114 shares of the company were exchanged, compared to its average volume of 4,493,937. The business has a 50 day simple moving average of $17.73 and a two-hundred day simple moving average of $19.11. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The stock has a market capitalization of $2.12 billion, a PE ratio of -3.90, a PEG ratio of 1.55 and a beta of 1.96. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

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.