Sei Investments Co. Sells 32,857 Shares of PENN Entertainment, Inc. $PENN

Sei Investments Co. cut its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,888,248 shares of the company’s stock after selling 32,857 shares during the quarter. Sei Investments Co.’s holdings in PENN Entertainment were worth $28,380,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Shapiro Capital Management LLC boosted its position in shares of PENN Entertainment by 6.6% during the third quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock valued at $132,062,000 after buying an additional 425,190 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in PENN Entertainment by 74.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after buying an additional 1,679,953 shares during the last quarter. AQR Capital Management LLC raised its position in PENN Entertainment by 824.3% in the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock valued at $51,341,000 after buying an additional 3,121,051 shares during the last quarter. Armistice Capital LLC lifted its stake in PENN Entertainment by 47.2% during the 4th quarter. Armistice Capital LLC now owns 3,096,000 shares of the company’s stock valued at $45,666,000 after acquiring an additional 992,334 shares in the last quarter. Finally, Kettle Hill Capital Management LLC boosted its holdings in PENN Entertainment by 129.5% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,773,390 shares of the company’s stock worth $26,158,000 after acquiring an additional 1,000,830 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $21.18 on Tuesday. The business’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $16.60. PENN Entertainment, Inc. has a 12 month low of $11.65 and a 12 month high of $22.36. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -3.15, a PEG ratio of 0.39 and a beta of 1.42. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94.

Wall Street Analyst Weigh In

PENN has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Susquehanna increased their price objective on shares of PENN Entertainment from $24.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, July 1st. Morgan Stanley lifted their target price on shares of PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded PENN Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PENN Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $22.78.

PENN Entertainment Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.