Readystate Asset Management LP Lowers Position in PENN Entertainment, Inc. $PENN

Posted by Geri Gentry on Jul 30th, 2026

Readystate Asset Management LP trimmed its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Free Report) by 56.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,845 shares of the company’s stock after selling 43,904 shares during the quarter. Readystate Asset Management LP’s holdings in PENN Entertainment were worth $509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its stake in PENN Entertainment by 1.1% during the second quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock worth $1,245,000 after buying an additional 745 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of PENN Entertainment by 3.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock valued at $394,000 after acquiring an additional 922 shares during the period. IFP Advisors Inc lifted its holdings in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of PENN Entertainment by 8.1% in the 2nd quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after acquiring an additional 1,483 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of PENN Entertainment by 13.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,298 shares of the company’s stock worth $215,000 after purchasing an additional 1,745 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 0.6%

PENN Entertainment stock opened at $21.20 on Thursday. The stock has a market cap of $2.84 billion, a PE ratio of -3.15, a P/E/G ratio of 0.40 and a beta of 1.42. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty day moving average is $20.46 and its two-hundred day moving average is $16.70. PENN Entertainment, Inc. has a 1-year low of $11.65 and a 1-year high of $22.36.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America boosted their target price on PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Truist Financial raised their price target on PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price objective on PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Mizuho increased their target price on PENN Entertainment from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.78.

Read Our Latest Research Report on PENN Entertainment

PENN Entertainment Profile

(Free Report)

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.