Semanteon Capital Management LP Invests $417,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

Semanteon Capital Management LP bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,012 shares of the company’s stock, valued at approximately $417,000.

Several other large investors have also made changes to their positions in PENN. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter worth $19,792,000. Assenagon Asset Management S.A. raised its position in shares of PENN Entertainment by 443.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 714,900 shares of the company’s stock worth $16,407,000 after buying an additional 583,388 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter worth $9,489,000. Source Financial Advisors LLC raised its position in shares of PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock worth $7,404,000 after buying an additional 294,845 shares during the period. Finally, Earnest Partners LLC raised its position in shares of PENN Entertainment by 11.1% in the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock worth $62,380,000 after buying an additional 271,254 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PENN shares. Stifel Nicolaus cut their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Mizuho assumed coverage on PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 price objective on the stock. Barclays cut their price objective on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Morgan Stanley raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Macquarie cut their price objective on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.80.

PENN Entertainment Stock Down 1.9 %

NASDAQ:PENN traded down $0.33 during mid-day trading on Friday, reaching $16.86. The stock had a trading volume of 4,830,954 shares, compared to its average volume of 5,683,341. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -4.74 and a beta of 2.06. PENN Entertainment, Inc. has a 1-year low of $15.88 and a 1-year high of $31.63. The stock’s 50 day simple moving average is $17.61 and its two-hundred day simple moving average is $21.36. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. Equities analysts anticipate that PENN Entertainment, Inc. will post -0.9 EPS for the current year.

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.