PENN Entertainment, Inc. (NASDAQ:PENN) Stock Holdings Reduced by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,357,298 shares of the company's stock after selling 16,808 shares during the quarter. Vanguard Group Inc. owned 10.72% of PENN Entertainment worth $324,202,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IFP Advisors Inc increased its stake 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 period. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $63,000. Lee Danner & Bass Inc. acquired a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $92,000. KBC Group NV raised its holdings in PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in PENN Entertainment in the third quarter worth approximately $124,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Down 7.5 %

Shares of PENN traded down $1.16 during trading hours on Friday, reaching $14.29. The company's stock had a trading volume of 8,227,735 shares, compared to its average volume of 4,530,389. The company has a 50 day moving average of $19.25 and a two-hundred day moving average of $19.50. 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 firm has a market cap of $2.19 billion, a price-to-earnings ratio of -4.03, a P/E/G ratio of 1.55 and a beta of 2.19. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PENN shares. JPMorgan Chase & Co. upgraded PENN Entertainment from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $19.00 to $27.00 in a research report on Friday, December 13th. Macquarie reiterated an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, February 28th. StockNews.com upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Finally, Benchmark restated a "hold" rating on shares of PENN Entertainment in a 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.