Connor Clark & Lunn Investment Management Ltd. Has $8.23 Million Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

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

A number of other institutional investors have also bought and sold shares of PENN. James Investment Research Inc. purchased a new stake in PENN Entertainment in the 4th quarter valued at about $26,000. Belpointe Asset Management LLC purchased a new stake in PENN Entertainment in the 4th quarter valued at about $45,000. Guardian Wealth Advisors LLC purchased a new stake in shares of PENN Entertainment during the 3rd quarter worth approximately $46,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of PENN Entertainment during the 1st quarter worth approximately $50,000. Finally, Emerald Advisers LLC increased its stake in shares of PENN Entertainment by 45.8% during the 4th quarter. Emerald Advisers LLC now owns 1,750 shares of the company’s stock worth $52,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 84.40% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN 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 one year low of $23.16 and a one year high of $39.35. The firm has a market capitalization of $3.85 billion, a P/E ratio of 6.17, a PEG ratio of 4.95 and a beta of 2.22. The business has a fifty day moving average of $27.76 and a 200 day moving average of $30.82.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of PENN Entertainment from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 1st. Susquehanna reduced their price objective on shares of PENN Entertainment from $42.00 to $40.00 in a research note on Friday, May 5th. Roth Mkm upgraded shares of PENN Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $40.00 in a research note on Tuesday, May 2nd. Roth Capital upgraded shares of PENN Entertainment from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 2nd. Finally, Truist Financial boosted their price target on shares of PENN Entertainment from $40.00 to $41.00 in a research report on Tuesday, April 18th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.65.

About PENN Entertainment

(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.