Bank of Montreal Can Boosts Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Bank of Montreal Can raised its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,226 shares of the company’s stock after purchasing an additional 3,201 shares during the period. Bank of Montreal Can’s holdings in PENN Entertainment were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PENN. Federated Hermes Inc. acquired a new position in shares of PENN Entertainment in the fourth quarter worth $11,280,000. Russell Investments Group Ltd. boosted its stake in shares of PENN Entertainment by 5.0% during the 4th quarter. Russell Investments Group Ltd. now owns 43,716 shares of the company’s stock worth $864,000 after purchasing an additional 2,072 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of PENN Entertainment by 65.9% during the fourth quarter. Landscape Capital Management L.L.C. now owns 56,763 shares of the company’s stock worth $1,125,000 after buying an additional 22,548 shares in the last quarter. Bryce Point Capital LLC purchased a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $531,000. Finally, Headlands Technologies LLC boosted its position in PENN Entertainment by 1,406.7% during the fourth quarter. Headlands Technologies LLC now owns 38,993 shares of the company’s stock worth $773,000 after acquiring an additional 36,405 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Down 3.6 %

NASDAQ PENN opened at $13.83 on Tuesday. The stock has a market cap of $2.12 billion, a PE ratio of -3.90, a P/E/G ratio of 1.55 and a beta of 1.96. The business has a 50 day moving average price of $17.58 and a two-hundred day moving average price of $19.08. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Susquehanna dropped their price objective on shares of PENN Entertainment from $26.00 to $23.00 and set a “positive” rating for the company in a research note 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. Stifel Nicolaus lowered their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Finally, Morgan Stanley cut their price target on shares of PENN Entertainment from $17.50 to $16.50 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.28.

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.