AlphaQuest LLC Acquires 11,267 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

AlphaQuest LLC grew its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 379.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,234 shares of the company’s stock after purchasing an additional 11,267 shares during the quarter. AlphaQuest LLC’s holdings in PENN Entertainment were worth $282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PENN. SG Americas Securities LLC bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $27,805,000. Charles Schwab Investment Management Inc. increased its position in PENN Entertainment by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company’s stock worth $26,503,000 after purchasing an additional 55,138 shares during the period. Raymond James Financial Inc. acquired a new position in PENN Entertainment during the 4th quarter valued at about $17,804,000. Jennison Associates LLC grew its position in shares of PENN Entertainment by 103.9% during the 3rd quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock worth $14,494,000 after buying an additional 391,640 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in PENN Entertainment by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 725,147 shares of the company’s stock valued at $14,372,000 after buying an additional 20,662 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PENN has been the topic of a number of analyst reports. Needham & Company LLC cut their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $27.00 in a report on Friday, December 13th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Mizuho increased their price target on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus upped their target price on shares of PENN Entertainment from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.69.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $17.09 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of -4.81, a P/E/G ratio of 1.55 and a beta of 2.19. The firm’s fifty day moving average price is $20.15 and its two-hundred day moving average price is $19.69. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $23.08. 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 Company 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.