National Bank of Canada FI Increases Position in PENN Entertainment, Inc. (NASDAQ:PENN)

National Bank of Canada FI grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 49,434.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,791 shares of the company's stock after buying an additional 499,780 shares during the quarter. National Bank of Canada FI owned 0.33% of PENN Entertainment worth $9,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Contrarius Group Holdings Ltd purchased a new stake in PENN Entertainment in the 4th quarter worth about $34,994,000. Norges Bank bought a new position in PENN Entertainment in the 4th quarter valued at $27,901,000. SG Americas Securities LLC purchased a new stake in PENN Entertainment in the fourth quarter worth $27,805,000. Raymond James Financial Inc. purchased a new stake in shares of PENN Entertainment during the fourth quarter valued at $17,804,000. Finally, ING Groep NV bought a new position in shares of PENN Entertainment in the fourth quarter worth about $9,910,000. Institutional investors own 91.69% of the company's stock.

Analyst Ratings Changes

PENN has been the topic of a number of research analyst reports. Benchmark restated a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a report on Thursday, January 16th. Needham & Company LLC lowered their target price on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, February 28th. StockNews.com upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company upped their price objective on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $23.56.

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PENN Entertainment Stock Down 7.2 %

PENN Entertainment stock traded down $1.17 during midday trading on Thursday, reaching $15.11. The company's stock had a trading volume of 1,174,179 shares, compared to its average volume of 4,552,008. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $2.31 billion, a P/E ratio of -4.25, a PEG ratio of 1.55 and a beta of 1.96. The stock's 50-day simple moving average is $18.68 and its 200-day simple moving average is $19.32. PENN Entertainment, Inc. has a 52-week low of $13.25 and a 52-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.