Aristeia Capital L.L.C. Increases Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Aristeia Capital L.L.C. grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 7.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,001 shares of the company’s stock after buying an additional 2,016 shares during the period. Aristeia Capital L.L.C.’s holdings in PENN Entertainment were worth $575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc grew its position in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after acquiring an additional 1,052 shares during the last quarter. Modus Advisors LLC purchased a new position in PENN Entertainment in the 4th quarter worth about $63,000. Lee Danner & Bass Inc. bought a new stake in PENN Entertainment during the 4th quarter valued at about $92,000. KBC Group NV boosted its position in PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after buying an additional 1,470 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in PENN Entertainment by 914.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company’s stock worth $119,000 after acquiring an additional 5,852 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PENN. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Morgan Stanley lowered their target price on PENN Entertainment from $17.50 to $16.50 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Finally, Jefferies Financial Group increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.77.

PENN Entertainment Trading Up 2.8 %

NASDAQ PENN opened at $15.97 on Friday. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The company has a 50 day moving average price of $16.46 and a 200 day moving average price of $18.88. 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 $2.41 billion, a PE ratio of -4.50, a price-to-earnings-growth 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.