PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 70.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,866 shares of the company’s stock after selling 147,228 shares during the quarter. Quantbot Technologies LP’s holdings in PENN Entertainment were worth $1,206,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PENN. IFP Advisors Inc increased its position in shares of PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Quest Partners LLC acquired a new position in PENN Entertainment during the third quarter worth approximately $56,000. Modus Advisors LLC purchased a new stake in PENN Entertainment in the fourth quarter valued at approximately $63,000. Lee Danner & Bass Inc. acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $92,000. Finally, KBC Group NV grew its position in shares of 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 acquiring an additional 1,470 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $17.33 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08. The business has a fifty day simple moving average of $19.86 and a 200-day simple moving average of $19.63. The stock has a market cap of $2.65 billion, a PE ratio of -4.88, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company lifted their price objective 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. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Stifel Nicolaus decreased 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, March 18th. StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.