Quantinno Capital Management LP Buys 319,329 Shares of PENN Entertainment, Inc. $PENN

Quantinno Capital Management LP boosted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 102.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 630,960 shares of the company’s stock after buying an additional 319,329 shares during the quarter. Quantinno Capital Management LP’s holdings in PENN Entertainment were worth $9,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PENN. Quarry LP acquired a new stake in PENN Entertainment in the 4th quarter worth $36,000. IFP Advisors Inc lifted its stake in shares of PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after buying an additional 1,196 shares during the period. Triumph Capital Management bought a new stake in shares of PENN Entertainment in the third quarter valued at about $54,000. Modus Advisors LLC acquired a new stake in PENN Entertainment during the fourth quarter worth about $47,000. Finally, Hantz Financial Services Inc. increased its stake in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares during the period. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $20.04 on Wednesday. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $22.36. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. The firm has a market capitalization of $2.68 billion, a PE ratio of -2.98, a price-to-earnings-growth ratio of 0.38 and a beta of 1.43. The firm has a 50-day moving average price of $20.73 and a 200 day moving average price of $16.87.

Analysts Set New Price Targets

Several research firms have commented on PENN. Stifel Nicolaus upped their price target on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 12th. Citigroup raised PENN Entertainment from a “hold” rating to an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th. Citizens Jmp upped their target price on PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a research note on Thursday, July 16th. Finally, Susquehanna raised their target price on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.78.

PENN Entertainment Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.