Inceptionr LLC Acquires New Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Inceptionr LLC purchased a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,724 shares of the company’s stock, valued at approximately $272,000.

A number of other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in PENN Entertainment in the 4th quarter valued at approximately $17,804,000. Proficio Capital Partners LLC acquired a new position in shares of PENN Entertainment during the fourth quarter valued at $596,000. M&T Bank Corp increased its holdings in shares of PENN Entertainment by 4.7% during the fourth quarter. M&T Bank Corp now owns 13,044 shares of the company’s stock valued at $259,000 after purchasing an additional 584 shares during the period. J.Safra Asset Management Corp raised its stake in shares of PENN Entertainment by 204.5% during the fourth quarter. J.Safra Asset Management Corp now owns 13,000 shares of the company’s stock valued at $243,000 after purchasing an additional 8,731 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in PENN Entertainment by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company’s stock worth $26,503,000 after purchasing an additional 55,138 shares during the period. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PENN shares. Mizuho raised their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Needham & Company LLC lowered their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.69.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $18.28 on Monday. The company has a market cap of $2.80 billion, a P/E ratio of -5.15, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The company’s fifty day moving average is $20.41 and its two-hundred day moving average is $19.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $23.08.

PENN Entertainment 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.