Long Focus Capital Management LLC Raises Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Long Focus Capital Management LLC grew its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,545,000 shares of the company’s stock after acquiring an additional 45,000 shares during the quarter. PENN Entertainment comprises approximately 1.0% of Long Focus Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Long Focus Capital Management LLC owned about 1.01% of PENN Entertainment worth $30,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new position in PENN Entertainment during the 4th quarter valued at approximately $596,000. Harbor Capital Advisors Inc. raised its stake in PENN Entertainment by 8.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock worth $11,851,000 after acquiring an additional 46,209 shares during the last quarter. ING Groep NV acquired a new stake in PENN Entertainment during the 4th quarter worth about $9,910,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment during the 4th quarter worth about $17,804,000. Finally, IFP Advisors Inc grew 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 purchasing an additional 1,052 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PENN has been the subject of several research reports. Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Wells Fargo & Company increased their price target 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. Needham & Company LLC dropped their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Mizuho increased their price objective on PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Macquarie restated an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and a consensus price target of $23.28.

PENN Entertainment Trading Up 8.4 %

PENN opened at $14.99 on Wednesday. The business has a fifty day moving average price of $17.43 and a 200 day moving average price of $19.05. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -4.22, a PEG ratio of 1.55 and a beta of 1.96.

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.