Natixis Advisors LLC Sells 61,895 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Natixis Advisors LLC cut its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,760 shares of the company’s stock after selling 61,895 shares during the period. Natixis Advisors LLC owned 0.16% of PENN Entertainment worth $4,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its position in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after purchasing an additional 1,052 shares during the period. Quest Partners LLC purchased a new stake in PENN Entertainment during the third quarter valued at approximately $56,000. Modus Advisors LLC purchased a new stake in PENN Entertainment during the fourth quarter valued at approximately $63,000. KBC Group NV raised its position in PENN Entertainment by 36.5% during the fourth 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 period. Finally, Point72 DIFC Ltd purchased a new stake in PENN Entertainment during the third quarter valued at approximately $124,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 1.2 %

Shares of NASDAQ PENN opened at $17.37 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $2.66 billion, a PE ratio of -4.89, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The stock’s fifty day simple moving average is $19.98 and its two-hundred day simple moving average is $19.63. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $23.08.

Analyst Upgrades and Downgrades

PENN has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Needham & Company LLC reduced their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company increased their price target on PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Finally, Jefferies Financial Group increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.56.

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.