Diametric Capital LP Decreases Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Diametric Capital LP lowered its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 72.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,991 shares of the company’s stock after selling 142,001 shares during the quarter. PENN Entertainment accounts for 0.7% of Diametric Capital LP’s portfolio, making the stock its 29th largest position. Diametric Capital LP’s holdings in PENN Entertainment were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Contrarius Group Holdings Ltd purchased a new stake in shares of PENN Entertainment during the 4th quarter valued at about $34,994,000. Norges Bank purchased a new position in shares of PENN Entertainment in the fourth quarter worth approximately $27,901,000. SG Americas Securities LLC bought a new stake in PENN Entertainment during the fourth quarter valued at approximately $27,805,000. Raymond James Financial Inc. purchased a new stake in PENN Entertainment during the fourth quarter valued at approximately $17,804,000. Finally, ING Groep NV purchased a new position in shares of PENN Entertainment during the 4th quarter worth $9,910,000. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus reduced their price objective on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Needham & Company LLC decreased 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 note on Friday, February 28th. Finally, Mizuho upped their price target on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.56.

PENN Entertainment Stock Down 3.6 %

PENN opened at $16.31 on Tuesday. The company has a market capitalization of $2.49 billion, a PE ratio of -4.59, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The firm has a 50-day simple moving average of $19.60 and a two-hundred day simple moving average of $19.61. 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 52 week low of $13.50 and a 52 week high of $23.08.

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.