Entropy Technologies LP Increases Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Entropy Technologies LP increased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 49.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,486 shares of the company’s stock after buying an additional 15,394 shares during the period. Entropy Technologies LP’s holdings in PENN Entertainment were worth $921,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PENN. Creative Planning lifted its stake in shares of PENN Entertainment by 16.2% in the second quarter. Creative Planning now owns 14,775 shares of the company’s stock worth $286,000 after acquiring an additional 2,057 shares in the last quarter. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of PENN Entertainment during the third quarter worth approximately $213,000. Raymond James & Associates increased its stake in shares of PENN Entertainment by 159.1% in the third quarter. Raymond James & Associates now owns 403,699 shares of the company’s stock worth $7,614,000 after buying an additional 247,873 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in PENN Entertainment by 1,634.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Morgan Stanley cut their price objective on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, Bank of America began coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average price target of $23.44.

PENN Entertainment Stock Up 2.1 %

PENN opened at $21.91 on Tuesday. The stock’s 50 day moving average price is $19.84 and its 200 day moving average price is $19.48. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $3.34 billion, a P/E ratio of -6.17, a P/E/G ratio of 1.53 and a beta of 2.09. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.81.

PENN Entertainment Company 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.