Proficio Capital Partners LLC Invests $596,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

Proficio Capital Partners LLC purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,067 shares of the company’s stock, valued at approximately $596,000.

A number of other hedge funds have also recently made changes to their positions in PENN. M&T Bank Corp lifted its position in shares of PENN Entertainment by 4.2% in the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after buying an additional 497 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of PENN Entertainment by 3.2% in the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock valued at $393,000 after acquiring an additional 620 shares during the period. XTX Topco Ltd grew its stake in PENN Entertainment by 2.8% during the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after buying an additional 641 shares during the last quarter. CIBC Asset Management Inc lifted its position in PENN Entertainment by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock worth $293,000 after acquiring an additional 813 shares during the period. Finally, IFP Advisors Inc lifted its position in PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after acquiring an additional 1,052 shares during the period. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PENN. Needham & Company LLC decreased their price objective on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $27.00 in a report on Friday, December 13th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Finally, 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. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.56.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $17.37 on Monday. The business’s fifty day moving average price is $19.98 and its 200 day moving average price is $19.65. The firm has a market capitalization of $2.66 billion, a PE ratio of -4.89, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

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.