Quantbot Technologies LP Cuts Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Quantbot Technologies LP trimmed its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 70.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,866 shares of the company's stock after selling 147,228 shares during the period. Quantbot Technologies LP's holdings in PENN Entertainment were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in PENN Entertainment by 201.5% during the 4th 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 during the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth about $56,000. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $63,000. Lee Danner & Bass Inc. bought a new stake in shares of PENN Entertainment in the fourth quarter worth about $92,000. Finally, KBC Group NV increased its holdings in 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 purchasing an additional 1,470 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. StockNews.com raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Stifel Nicolaus cut their target price 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. Finally, Wells Fargo & Company lifted their price objective on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $23.56.

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PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded down $0.20 during trading hours on Friday, hitting $16.92. The company's stock had a trading volume of 2,564,945 shares, compared to its average volume of 4,513,705. 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, Inc. has a 12-month low of $13.50 and a 12-month high of $23.08. The business has a 50 day moving average price of $19.68 and a two-hundred day moving average price of $19.61. The company has a market cap of $2.59 billion, a PE ratio of -4.77, a PEG ratio of 1.55 and a beta of 2.19.

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.