Sei Investments Co. Decreases Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Sei Investments Co. trimmed its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 24.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,838,228 shares of the company's stock after selling 593,874 shares during the quarter. Sei Investments Co. owned approximately 1.20% of PENN Entertainment worth $36,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Contrarius Group Holdings Ltd bought a new position in PENN Entertainment during the 4th quarter worth approximately $34,994,000. SG Americas Securities LLC acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $27,805,000. Raymond James Financial Inc. bought a new position in PENN Entertainment during the fourth quarter worth $17,804,000. ING Groep NV acquired a new position in PENN Entertainment in the fourth quarter valued at $9,910,000. Finally, Verition Fund Management LLC boosted its position in PENN Entertainment by 367.2% during the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company's stock valued at $8,543,000 after acquiring an additional 356,029 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Down 1.2 %

Shares of PENN stock traded down $0.20 during trading hours on Friday, reaching $16.92. The company had a trading volume of 2,564,945 shares, compared to its average volume of 4,513,705. The business has a fifty day simple moving average of $19.68 and a 200-day simple moving average of $19.59. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -4.77, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

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Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Macquarie reissued an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, February 28th. Mizuho lifted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Finally, Needham & Company LLC reduced their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, PENN Entertainment currently has an average rating of "Hold" and an average price target of $23.56.

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.