PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. reduced its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 29.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,599 shares of the company's stock after selling 17,917 shares during the quarter. Avantax Advisory Services Inc.'s holdings in PENN Entertainment were worth $864,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. AlphaQuest LLC increased its stake in PENN Entertainment by 379.7% in the 4th quarter. AlphaQuest LLC now owns 14,234 shares of the company's stock valued at $282,000 after purchasing an additional 11,267 shares in the last quarter. Inceptionr LLC purchased a new position in shares of PENN Entertainment in the fourth quarter valued at $272,000. Raymond James Financial Inc. acquired a new position in shares of PENN Entertainment during the 4th quarter worth $17,804,000. Proficio Capital Partners LLC purchased a new stake in shares of PENN Entertainment in the 4th quarter worth about $596,000. Finally, M&T Bank Corp grew its stake in PENN Entertainment by 4.7% in the 4th quarter. M&T Bank Corp now owns 13,044 shares of the company's stock valued at $259,000 after acquiring an additional 584 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Trading Down 0.1 %

PENN stock traded down $0.02 during trading on Monday, reaching $17.35. 2,198,460 shares of the stock traded hands, compared to its average volume of 4,501,514. The firm has a market capitalization of $2.65 billion, a PE ratio of -4.89, a P/E/G ratio of 1.55 and a beta of 2.19. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $23.08. 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 business's 50 day moving average price is $19.98 and its 200-day moving average price is $19.65.

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Wall Street Analyst Weigh In

Several analysts have issued reports on PENN shares. Macquarie reaffirmed an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Stifel Nicolaus reduced their target price on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Jefferies Financial Group increased their target price on PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a report on Friday, January 3rd. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a report on Thursday, January 16th. Finally, StockNews.com raised PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $23.56.

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.