J.Safra Asset Management Corp Buys 8,731 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

J.Safra Asset Management Corp raised its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 204.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,000 shares of the company’s stock after acquiring an additional 8,731 shares during the period. J.Safra Asset Management Corp’s holdings in PENN Entertainment were worth $243,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after acquiring an additional 1,052 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment in the third quarter valued at about $45,000. Quest Partners LLC bought a new stake in shares of PENN Entertainment in the third quarter valued at about $56,000. International Assets Investment Management LLC lifted its holdings in shares of PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $63,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 4.9 %

Shares of PENN Entertainment stock opened at $19.75 on Wednesday. The business has a fifty day simple moving average of $20.37 and a two-hundred day simple moving average of $19.81. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $23.08. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -5.56, a P/E/G ratio of 1.55 and a beta of 2.09. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Financial Group boosted 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. Needham & Company LLC cut their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Bank of America assumed coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average price target of $23.69.

PENN Entertainment Company 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.