Charles Schwab Investment Management Inc. Acquires 55,138 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Charles Schwab Investment Management Inc. raised its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,337,162 shares of the company’s stock after purchasing an additional 55,138 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PENN Entertainment were worth $26,503,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PENN. IFP Advisors Inc boosted its position in shares of PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Quest Partners LLC bought a new position in shares of PENN Entertainment during the third quarter worth $56,000. Modus Advisors LLC bought a new position in shares of PENN Entertainment during the fourth quarter worth $63,000. KBC Group NV boosted its position in shares of PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company’s stock worth $109,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of PENN Entertainment during the third quarter worth $124,000. 91.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Needham & Company LLC dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus raised their price objective on shares of PENN Entertainment from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Tuesday, February 11th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Mizuho raised their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PENN Entertainment presently has a consensus rating of “Hold” and an average target price of $23.69.

PENN Entertainment Stock Up 1.0 %

Shares of PENN stock opened at $17.26 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $23.08. The firm’s fifty day moving average price is $20.10 and its two-hundred day moving average price is $19.69. The firm has a market capitalization of $2.64 billion, a P/E ratio of -4.86, a PEG ratio of 1.55 and a beta of 2.19.

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.