Connor Clark & Lunn Investment Management Ltd. Sells 202,103 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 53.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 179,377 shares of the company’s stock after selling 202,103 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in PENN Entertainment were worth $3,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Quest Partners LLC bought a new position in PENN Entertainment in the third quarter worth about $56,000. Modus Advisors LLC purchased a new stake in PENN Entertainment in the fourth quarter worth about $63,000. KBC Group NV boosted its position in PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after acquiring an additional 1,470 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $124,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PENN shares. Jefferies Financial Group upped their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price objective on shares of PENN Entertainment from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Tuesday, February 11th. StockNews.com upgraded shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Needham & Company LLC cut their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.69.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $17.26 on Tuesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -4.86, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The business has a 50-day simple moving average of $20.10 and a two-hundred day simple moving average of $19.69. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $23.08.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.