Sei Investments Co. Sells 593,874 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Sei Investments Co. trimmed its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,838,228 shares of the company’s stock after selling 593,874 shares during the quarter. Sei Investments Co.’s holdings in PENN Entertainment were worth $36,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares during the period. Quest Partners LLC acquired a new position in PENN Entertainment during the 3rd quarter worth about $56,000. Modus Advisors LLC acquired a new position in PENN Entertainment during the 4th quarter worth about $63,000. Lee Danner & Bass Inc. bought a new stake in shares of PENN Entertainment in the 4th quarter valued at about $92,000. Finally, KBC Group NV increased its stake in shares of PENN Entertainment by 36.5% in the fourth quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after buying an additional 1,470 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus decreased their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group increased their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company lifted their price objective on PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.56.

PENN Entertainment Price Performance

Shares of PENN opened at $17.35 on Tuesday. The business’s fifty day moving average is $19.93 and its 200 day moving average is $19.64. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month 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 stock has a market cap of $2.65 billion, a P/E ratio of -4.89, a P/E/G ratio of 1.55 and a beta of 2.19.

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.