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

Sei Investments Co. trimmed its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,888,248 shares of the company’s stock after selling 32,857 shares during the quarter. Sei Investments Co. owned approximately 1.41% of PENN Entertainment worth $28,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PENN. Quarry LP bought a new position in PENN Entertainment in the 4th quarter valued at approximately $36,000. IFP Advisors Inc grew its holdings in PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares during the last quarter. Triumph Capital Management bought a new stake in PENN Entertainment during the 3rd quarter worth approximately $54,000. Modus Advisors LLC acquired a new position in PENN Entertainment in the 4th quarter valued at approximately $47,000. Finally, Hantz Financial Services Inc. increased its position in PENN Entertainment by 385.1% in the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares during the period. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Price Performance

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

Analyst Upgrades and Downgrades

PENN has been the topic of a number of recent research reports. Barclays lifted their price target on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Stifel Nicolaus increased their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 12th. JPMorgan Chase & Co. raised their target price on PENN Entertainment from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft lifted their target price on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 24th. Finally, Capital One Financial raised PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.78.

PENN Entertainment Company 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.