AlphaQuest LLC Has $282,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

AlphaQuest LLC raised its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 379.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,234 shares of the company’s stock after buying an additional 11,267 shares during the quarter. AlphaQuest LLC’s holdings in PENN Entertainment were worth $282,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $27,805,000. Raymond James Financial Inc. bought a new stake in PENN Entertainment in the 4th quarter valued at about $17,804,000. ING Groep NV acquired a new position in shares of PENN Entertainment during the 4th quarter worth approximately $9,910,000. Jennison Associates LLC increased its holdings in shares of PENN Entertainment by 103.9% during the third quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock worth $14,494,000 after purchasing an additional 391,640 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of PENN Entertainment by 367.2% in the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock valued at $8,543,000 after buying an additional 356,029 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $17.09 on Friday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -4.81, a PEG ratio of 1.55 and a beta of 2.19. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The business’s 50-day moving average price is $20.15 and its 200-day moving average price is $19.69. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PENN shares. Jefferies Financial Group increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Stifel Nicolaus raised their price target on PENN Entertainment from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Mizuho raised their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and a consensus price target of $23.69.

PENN Entertainment Profile

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.