PENN Entertainment, Inc. (NASDAQ:PENN) Stake Raised by Headlands Technologies LLC

Headlands Technologies LLC boosted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 1,406.7% in the fourth quarter, HoldingsChannel reports. The fund owned 38,993 shares of the company’s stock after buying an additional 36,405 shares during the quarter. Headlands Technologies LLC’s holdings in PENN Entertainment were worth $773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in PENN Entertainment by 12.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,282,024 shares of the company’s stock valued at $24,179,000 after purchasing an additional 146,645 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PENN Entertainment by 22.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,615 shares of the company’s stock valued at $483,000 after acquiring an additional 4,648 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PENN Entertainment in the third quarter worth $216,000. HighTower Advisors LLC increased its stake in shares of PENN Entertainment by 7.2% in the third quarter. HighTower Advisors LLC now owns 23,292 shares of the company’s stock worth $436,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in PENN Entertainment by 244.7% during the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock valued at $4,697,000 after purchasing an additional 176,844 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Up 6.4 %

PENN Entertainment stock opened at $17.17 on Thursday. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2.63 billion, a PE ratio of -4.84, a PEG ratio of 1.55 and a beta of 2.19. The business’s 50-day simple moving average is $19.45 and its 200-day simple moving average is $19.56.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PENN shares. Wells Fargo & Company upped their target price 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. Jefferies Financial Group increased their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Macquarie reiterated an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, February 28th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Finally, Stifel Nicolaus cut their price target on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.56.

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.