PENN Entertainment, Inc. (NASDAQ:PENN) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,116 shares of the company’s stock after purchasing an additional 22,909 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of PENN Entertainment worth $8,230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. James Investment Research Inc. purchased a new stake in PENN Entertainment in the fourth quarter valued at approximately $26,000. Stonebridge Capital Advisors LLC purchased a new stake in PENN Entertainment in the first quarter valued at approximately $50,000. Belpointe Asset Management LLC purchased a new stake in PENN Entertainment in the fourth quarter valued at approximately $45,000. Canada Pension Plan Investment Board raised its stake in shares of PENN Entertainment by 44.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,592 shares of the company’s stock worth $68,000 after purchasing an additional 493 shares during the last quarter. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth approximately $46,000. 84.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC cut their price target on PENN Entertainment from $50.00 to $44.00 in a research note on Friday, May 5th. Truist Financial upped their price target on PENN Entertainment from $40.00 to $41.00 in a research note on Tuesday, April 18th. Morgan Stanley dropped their price objective on PENN Entertainment from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 1st. Roth Mkm raised PENN Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $40.00 in a report on Tuesday, May 2nd. Finally, Stifel Nicolaus dropped their price objective on PENN Entertainment from $38.00 to $32.00 in a report on Friday, May 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.65.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $24.97 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.38 and a quick ratio of 1.35. PENN Entertainment, Inc. has a fifty-two week low of $23.16 and a fifty-two week high of $39.35. The stock’s 50-day moving average is $27.76 and its two-hundred day moving average is $30.82. The firm has a market cap of $3.85 billion, a P/E ratio of 6.17, a PEG ratio of 4.95 and a beta of 2.22.

PENN Entertainment Profile

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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.