1,765,598 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Acquired by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,765,598 shares of the company’s stock, valued at approximately $34,994,000. PENN Entertainment makes up approximately 2.1% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of PENN Entertainment in the fourth quarter valued at $27,805,000. Raymond James Financial Inc. bought a new position in shares of PENN Entertainment in the fourth quarter valued at $17,804,000. ING Groep NV bought a new position in shares of PENN Entertainment in the fourth quarter valued at $9,910,000. Jennison Associates LLC increased its holdings 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 valued at $14,494,000 after buying an additional 391,640 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of PENN Entertainment by 367.2% in the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock valued at $8,543,000 after buying an additional 356,029 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Mizuho upped their price target on PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their price target on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Finally, Macquarie reiterated an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of “Hold” and a consensus target price of $23.56.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $17.40 on Thursday. The stock has a market cap of $2.66 billion, a P/E ratio of -4.90, a PEG ratio of 1.55 and a beta of 2.19. The company’s 50-day simple moving average is $20.04 and its 200 day simple moving average is $19.66. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $23.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

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.