Belpointe Asset Management LLC Makes New $45,000 Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Belpointe Asset Management LLC purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,507 shares of the company’s stock, valued at approximately $45,000.

Several other large investors have also recently made changes to their positions in the business. HG Vora Capital Management LLC raised its stake in shares of PENN Entertainment by 114.3% during the third quarter. HG Vora Capital Management LLC now owns 7,500,000 shares of the company’s stock worth $206,325,000 after acquiring an additional 4,000,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of PENN Entertainment by 1.3% in the third quarter. Renaissance Technologies LLC now owns 2,345,461 shares of the company’s stock worth $64,524,000 after buying an additional 30,823 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of PENN Entertainment by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company’s stock worth $79,854,000 after buying an additional 97,988 shares during the period. Earnest Partners LLC increased its stake in shares of PENN Entertainment by 42.8% in the first quarter. Earnest Partners LLC now owns 1,662,997 shares of the company’s stock worth $70,544,000 after buying an additional 498,084 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of PENN Entertainment by 52.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,660,716 shares of the company’s stock worth $45,686,000 after buying an additional 574,239 shares during the period. 84.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays decreased their target price on shares of PENN Entertainment from $36.00 to $34.00 in a research note on Friday, May 5th. StockNews.com assumed coverage on shares of PENN Entertainment in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Stifel Nicolaus cut their price target on shares of PENN Entertainment from $38.00 to $32.00 in a report on Friday, May 5th. MKM Partners lifted their price target on shares of PENN Entertainment from $33.00 to $35.00 in a report on Friday, February 3rd. Finally, Roth Mkm upgraded shares of PENN Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $40.00 in a report on Tuesday, May 2nd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.65.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $24.89 on Thursday. PENN Entertainment, Inc. has a 1 year low of $23.16 and a 1 year high of $39.35. The firm’s 50-day moving average is $27.81 and its 200 day moving average is $30.86. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 6.15, a PEG ratio of 4.95 and a beta of 2.22. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.38 and a quick ratio of 1.35.

PENN Entertainment Profile

(Get Rating)

PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.