Moors & Cabot Inc. Invests $266,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

Posted by Defense World Staff on May 22nd, 2023

Moors & Cabot Inc. acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,964 shares of the company’s stock, valued at approximately $266,000.

Other large investors also recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new stake in PENN Entertainment during the fourth quarter worth approximately $26,000. Belpointe Asset Management LLC bought a new stake in PENN Entertainment during the fourth quarter worth approximately $45,000. Guardian Wealth Advisors LLC bought a new stake in PENN Entertainment during the third quarter worth approximately $46,000. Stonebridge Capital Advisors LLC bought a new stake in PENN Entertainment during the first quarter worth approximately $50,000. Finally, Emerald Advisers LLC increased its stake in PENN Entertainment by 45.8% during the fourth quarter. Emerald Advisers LLC now owns 1,750 shares of the company’s stock worth $52,000 after acquiring an additional 550 shares during the last quarter. 84.40% of the stock is owned by institutional investors.

PENN Entertainment Stock Down 2.0 %

PENN Entertainment stock opened at $24.53 on Monday. The business has a fifty day moving average of $27.91 and a two-hundred day moving average of $31.01. The company has a quick ratio of 1.35, a current ratio of 1.38 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.78 billion, a P/E ratio of 6.06, a P/E/G ratio of 4.80 and a beta of 2.22. PENN Entertainment, Inc. has a twelve month low of $23.16 and a twelve month high of $39.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PENN shares. Susquehanna reduced their price objective on PENN Entertainment from $42.00 to $40.00 in a research note on Friday, May 5th. Roth Capital raised PENN Entertainment from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 2nd. Credit Suisse Group cut their target price on PENN Entertainment from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Deutsche Bank Aktiengesellschaft cut their target price on PENN Entertainment from $31.00 to $30.00 in a research note on Friday, May 5th. Finally, Needham & Company LLC cut their target price on PENN Entertainment from $50.00 to $44.00 in a research note on Friday, May 5th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Moderate Buy” and an average target price of $38.65.

PENN Entertainment Profile

(Get Rating)

PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

Moors & Cabot Inc. Invests $266,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

PENN Entertainment Stock Down 2.0 %

Wall Street Analysts Forecast Growth

PENN Entertainment Profile

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