Raymond James Financial Inc. Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Raymond James Financial Inc. bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 898,295 shares of the company's stock, valued at approximately $17,804,000. Raymond James Financial Inc. owned about 0.59% of PENN Entertainment at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after acquiring an additional 1,052 shares in the last quarter. Quest Partners LLC bought a new stake in PENN Entertainment during the third quarter worth approximately $56,000. Modus Advisors LLC acquired a new position in PENN Entertainment during the fourth quarter valued at approximately $63,000. KBC Group NV raised its position in shares of PENN Entertainment by 36.5% in the fourth 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. Finally, Point72 DIFC Ltd bought a new position in shares of PENN Entertainment in the third quarter valued at approximately $124,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded up $0.21 during mid-day trading on Friday, reaching $17.37. 3,232,127 shares of the stock were exchanged, compared to its average volume of 4,505,085. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -4.89, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $23.08. The firm has a 50-day simple moving average of $20.01 and a 200 day simple moving average of $19.64.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PENN shares. StockNews.com upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Stifel Nicolaus decreased their target price on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised PENN Entertainment from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Needham & Company LLC cut their price target on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Jefferies Financial Group boosted their target price 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. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $23.56.

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.