AXQ Capital LP Invests $911,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

AXQ Capital LP acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 45,977 shares of the company’s stock, valued at approximately $911,000.

Several other institutional investors have also recently modified their holdings of PENN. Virtu Financial LLC acquired a new stake in PENN Entertainment during the fourth quarter worth about $272,000. Lee Danner & Bass Inc. acquired a new stake in PENN Entertainment during the fourth quarter worth about $92,000. Contrarius Group Holdings Ltd acquired a new stake in PENN Entertainment during the fourth quarter worth about $34,994,000. Swiss National Bank grew its holdings in PENN Entertainment by 0.6% during the fourth quarter. Swiss National Bank now owns 269,284 shares of the company’s stock worth $5,337,000 after acquiring an additional 1,500 shares during the period. Finally, AlphaQuest LLC grew its holdings in PENN Entertainment by 379.7% during the fourth quarter. AlphaQuest LLC now owns 14,234 shares of the company’s stock worth $282,000 after acquiring an additional 11,267 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $17.37 on Friday. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 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. The company has a market capitalization of $2.66 billion, a P/E ratio of -4.89, a P/E/G ratio of 1.55 and a beta of 2.19. The stock’s fifty day moving average is $19.98 and its two-hundred day moving average is $19.63.

Analyst Upgrades and Downgrades

Several analysts recently commented on PENN shares. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Stifel Nicolaus dropped their price objective on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday. StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Wells Fargo & Company raised their price objective on PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Finally, Mizuho raised their price objective on PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.56.

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.