AXQ Capital LP Takes $911,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

AXQ Capital LP acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 45,977 shares of the company’s stock, valued at approximately $911,000.

A number of other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at $272,000. Lee Danner & Bass Inc. acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at $92,000. Contrarius Group Holdings Ltd acquired a new position in PENN Entertainment during the 4th quarter worth $34,994,000. Swiss National Bank grew its stake in PENN Entertainment by 0.6% during the 4th quarter. Swiss National Bank now owns 269,284 shares of the company’s stock worth $5,337,000 after purchasing an additional 1,500 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in PENN Entertainment by 379.7% during the 4th quarter. AlphaQuest LLC now owns 14,234 shares of the company’s stock worth $282,000 after purchasing an additional 11,267 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on PENN shares. StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised 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 research report on Friday, December 13th. Stifel Nicolaus lowered their price objective on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company upped their price objective on PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.56.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $17.37 on Friday. 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. The stock has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $19.63. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

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.