Norges Bank Purchases Shares of 1,407,720 PENN Entertainment, Inc. (NASDAQ:PENN)

Norges Bank bought a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,407,720 shares of the company's stock, valued at approximately $27,901,000. Norges Bank owned about 0.92% of PENN Entertainment as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IFP Advisors Inc raised its position 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 during the last quarter. Modus Advisors LLC acquired a new position in shares of PENN Entertainment in the fourth quarter worth about $63,000. Lee Danner & Bass Inc. acquired a new position in PENN Entertainment in the 4th quarter worth about $92,000. KBC Group NV lifted its position 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 valued at $109,000 after buying an additional 1,470 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in PENN Entertainment during the third quarter valued at $124,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Wall Street Analyst Weigh In

PENN has been the topic of several research reports. Macquarie restated an "outperform" rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. Jefferies Financial Group raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a report on Friday, January 3rd. Wells Fargo & Company upped 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. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Finally, JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Ten equities 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 company presently has a consensus rating of "Hold" and an average price target of $23.56.

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PENN Entertainment Trading Down 2.5 %

PENN stock traded down $0.36 during mid-day trading on Friday, hitting $14.33. 4,032,195 shares of the company were exchanged, compared to its average volume of 4,544,182. The business has a fifty day simple moving average of $18.44 and a 200-day simple moving average of $19.26. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.04, a PEG ratio of 1.55 and a beta of 1.96. 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.

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.