898,295 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 898,295 shares of the company’s stock, valued at approximately $17,804,000. Raymond James Financial Inc. owned 0.59% of PENN Entertainment as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. IFP Advisors Inc raised its holdings in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after buying an additional 1,052 shares during the period. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $63,000. Lee Danner & Bass Inc. acquired a new position in shares of PENN Entertainment in the 4th quarter worth approximately $92,000. KBC Group NV increased its holdings in PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after purchasing an additional 1,470 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in PENN Entertainment by 914.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company’s stock valued at $119,000 after purchasing an additional 5,852 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PENN shares. Jefferies Financial Group raised their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. Susquehanna reduced their price target on shares of PENN Entertainment from $26.00 to $23.00 and set a “positive” rating on the stock in a research report on Tuesday, April 15th. StockNews.com upgraded shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.28.

PENN Entertainment Stock Up 0.5 %

PENN opened at $14.34 on Monday. PENN Entertainment, Inc. has a one year low of $13.25 and a one year high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $2.19 billion, a P/E ratio of -4.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.96. The business’s 50-day simple moving average is $17.73 and its 200-day simple moving average is $19.11.

PENN Entertainment 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.