Proficio Capital Partners LLC Invests $596,000 in PENN Entertainment, Inc.

Proficio Capital Partners LLC has recently made a significant investment in PENN Entertainment, Inc. (NASDAQ:PENN). In the fourth quarter, Proficio acquired a fresh stake, purchasing 30,067 shares of the company's stock. This investment is valued at approximately $596,000, as reported in the firm's latest Form 13F filing with the Securities and Exchange Commission.

In addition to Proficio, several other hedge funds have adjusted their positions in PENN Entertainment. For instance, M&T Bank Corp increased its stake by 4.2% during the third quarter, now owning 12,460 shares worth about $235,000 after adding 497 shares in the recent quarter. Similarly, Westside Investment Management Inc. boosted its holdings by 3.2% in the fourth quarter, now possessing 19,849 shares valued at $393,000 following the acquisition of 620 additional shares. XTX Topco Ltd also grew its stake in PENN by 2.8% during the third quarter, owning 23,362 shares worth $441,000 after purchasing 641 more shares during the previous quarter.

Furthermore, CIBC Asset Management Inc. enhanced its position in PENN by 5.8% in the fourth quarter, now holding 14,774 shares valued at $293,000 after acquiring an extra 813 shares. Notably, IFP Advisors Inc. has markedly increased its stake by 201.5% during the fourth quarter, owning 1,574 shares worth $31,000 after acquiring 1,052 additional shares. Overall, institutional investors control about 91.69% of the company's stock.

Recent Analyst Insights

In terms of stock analysis, several brokerages have recently issued their opinions on PENN Entertainment. Needham & Company LLC lowered their price target from $26.00 to $25.00 while maintaining a “buy” rating on the stock in a report released on February 28. Conversely, JPMorgan Chase & Co. raised their rating from “neutral” to “overweight,” increasing the price target from $19.00 to $27.00 on December 13. Benchmark reiterated a “hold” rating in a report from March 3, while JMP Securities reaffirmed a “market perform” rating in a January 16 research note. Jefferies Financial Group raised their price target from $21.00 to $22.00, assigning a “hold” rating in early January. Currently, the stock has received an average rating of “Hold,” with a target price of $23.56 according to MarketBeat.

PENN Entertainment Stock Overview

The stock of PENN Entertainment opened at $17.37. The firm has a 50-day moving average of $19.98 and a 200-day moving average of $19.65. PENN Entertainment has a market capitalization of approximately $2.66 billion, a price-to-earnings (PE) ratio of -4.89, and a price-to-earnings-growth ratio of 1.55, with a beta value of 2.19. The company's shares have seen a low of $13.50 and a high of $23.08 over the last twelve months. Additionally, PENN has a debt-to-equity ratio of 2.34, a current ratio of 0.94, and a quick ratio of 0.94.

About PENN Entertainment

PENN Entertainment, Inc., including its subsidiaries, offers a variety of entertainment services, sports content, and casino gaming experiences. The company operates across five segments: Northeast, South, West, Midwest, and Interactive. It provides online sports betting options and iCasino through its brands like Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino.

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For those interested in following hedge fund actions regarding PENN, updates on latest 13F filings and insider trades can provide valuable insights.

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