Janney Montgomery Scott LLC Reduces Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Janney Montgomery Scott LLC lessened its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 17.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,224 shares of the company’s stock after selling 3,760 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PENN Entertainment were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in PENN Entertainment during the third quarter valued at approximately $45,000. GAMMA Investing LLC increased its holdings in shares of PENN Entertainment by 88.5% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after purchasing an additional 1,275 shares during the period. Quest Partners LLC bought a new position in shares of PENN Entertainment in the third quarter worth $56,000. International Assets Investment Management LLC boosted its position in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after acquiring an additional 3,057 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the fourth quarter worth about $63,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $21.91 on Tuesday. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $23.81. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -6.17, a PEG ratio of 1.53 and a beta of 2.09. The stock’s 50 day simple moving average is $19.84 and its two-hundred day simple moving average is $19.48. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PENN shares. Wells Fargo & Company lifted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, November 8th. Macquarie boosted their price objective on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America started coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.44.

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.