NewEdge Wealth LLC Lowers Position in PENN Entertainment, Inc. (NASDAQ:PENN)

NewEdge Wealth LLC lessened its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,494,224 shares of the company’s stock after selling 44,648 shares during the period. NewEdge Wealth LLC’s holdings in PENN Entertainment were worth $29,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of PENN Entertainment during the 4th quarter valued at approximately $27,805,000. Charles Schwab Investment Management Inc. lifted its holdings 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. Jennison Associates LLC boosted its position in shares of PENN Entertainment by 103.9% in 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. Principal Financial Group Inc. boosted its position in shares of PENN Entertainment by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 725,147 shares of the company’s stock worth $14,372,000 after purchasing an additional 20,662 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of PENN Entertainment by 8.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock worth $11,851,000 after purchasing an additional 46,209 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

PENN has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Susquehanna dropped their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Bank of America started coverage on PENN Entertainment in a research note on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price on the stock. Jefferies Financial Group upped their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and a consensus price target of $23.50.

PENN Entertainment Stock Up 0.2 %

Shares of NASDAQ:PENN opened at $20.41 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -5.75, a PEG ratio of 1.55 and a beta of 2.09. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08. 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 company has a 50-day moving average price of $20.19 and a 200 day moving average price of $19.75.

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.