Orvieto Partners L.P. Purchases New Shares in PENN Entertainment, Inc. (NASDAQ:PENN)

Orvieto Partners L.P. purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 340,000 shares of the company's stock, valued at approximately $6,739,000. PENN Entertainment accounts for approximately 5.7% of Orvieto Partners L.P.'s investment portfolio, making the stock its 4th biggest position. Orvieto Partners L.P. owned about 0.22% of PENN Entertainment at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PENN. Adage Capital Partners GP L.L.C. acquired a new position in PENN Entertainment during the fourth quarter worth about $4,603,000. Long Focus Capital Management LLC raised its holdings in PENN Entertainment by 3.0% during the fourth quarter. Long Focus Capital Management LLC now owns 1,545,000 shares of the company's stock worth $30,622,000 after purchasing an additional 45,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in PENN Entertainment by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 103,589 shares of the company's stock worth $2,054,000 after purchasing an additional 7,155 shares in the last quarter. Sterling Capital Management LLC grew its holdings in PENN Entertainment by 51.8% in the fourth quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock valued at $179,000 after purchasing an additional 3,080 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in shares of PENN Entertainment in the fourth quarter valued at $234,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PENN shares. Stifel Nicolaus lowered 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 note on Tuesday, March 18th. Truist Financial reduced their target price on shares of PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Macquarie reissued an "outperform" rating and set a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, February 28th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and eight 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 price target of $23.09.

PENN Entertainment Trading Up 6.6 %

Shares of PENN Entertainment stock traded up $1.00 during trading hours on Friday, hitting $16.15. The company's stock had a trading volume of 5,616,660 shares, compared to its average volume of 4,460,397. The business has a fifty day moving average of $17.00 and a 200 day moving average of $18.98. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year 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 company has a market capitalization of $2.47 billion, a PE ratio of -4.55, a P/E/G ratio of 1.55 and a beta of 1.96.

About PENN Entertainment

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.