International Assets Investment Management LLC Increases Position in PENN Entertainment, Inc. (NASDAQ:PENN)

International Assets Investment Management LLC lifted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 1,554.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,779 shares of the company’s stock after buying an additional 20,463 shares during the period. International Assets Investment Management LLC’s holdings in PENN Entertainment were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $19,792,000. Source Financial Advisors LLC boosted its stake in shares of PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock worth $7,404,000 after buying an additional 294,845 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $1,750,000. Sei Investments Co. boosted its stake in shares of PENN Entertainment by 13.9% in the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after buying an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of PENN Entertainment by 20.0% in the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Up 2.4 %

Shares of PENN stock opened at $17.84 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. PENN Entertainment, Inc. has a 52-week low of $15.88 and a 52-week high of $31.63. The company has a market capitalization of $2.72 billion, a PE ratio of -4.90 and a beta of 2.06. The business’s fifty day moving average is $17.65 and its 200 day moving average is $21.39.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities research analysts anticipate that PENN Entertainment, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on PENN. Barclays dropped their price objective on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Stifel Nicolaus reduced their price objective on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. Benchmark began coverage on PENN Entertainment in a report on Tuesday, April 16th. They set a “hold” rating for the company. Finally, Needham & Company LLC reduced their price objective on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating for the company in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

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.