Invesco Ltd. Acquires 848,066 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Invesco Ltd. grew its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,882,009 shares of the company's stock after buying an additional 848,066 shares during the quarter. Invesco Ltd. owned 2.54% of PENN Entertainment worth $76,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PENN. Bank of Montreal Can boosted its position in PENN Entertainment by 13.9% during the fourth quarter. Bank of Montreal Can now owns 26,226 shares of the company's stock worth $520,000 after purchasing an additional 3,201 shares in the last quarter. Federated Hermes Inc. purchased a new stake in PENN Entertainment in the 4th quarter worth $11,280,000. Russell Investments Group Ltd. lifted its holdings in PENN Entertainment by 5.0% during the fourth quarter. Russell Investments Group Ltd. now owns 43,716 shares of the company's stock valued at $864,000 after purchasing an additional 2,072 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in shares of PENN Entertainment by 65.9% during the fourth quarter. Landscape Capital Management L.L.C. now owns 56,763 shares of the company's stock worth $1,125,000 after purchasing an additional 22,548 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new position in PENN Entertainment in the 4th quarter valued at about $531,000. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

PENN Entertainment stock traded up $0.07 during trading hours on Friday, hitting $14.34. 3,559,191 shares of the stock were exchanged, compared to its average volume of 4,498,882. 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 stock has a market capitalization of $2.19 billion, a P/E ratio of -4.04, a P/E/G ratio of 1.55 and a beta of 1.96. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The business's 50-day moving average is $17.73 and its two-hundred day moving average is $19.10.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of research analyst reports. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Needham & Company LLC reduced their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company boosted their target price on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Macquarie reiterated an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, February 28th. Finally, Stifel Nicolaus lowered their price objective on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, PENN Entertainment presently has a consensus rating of "Hold" and a consensus price target of $23.28.

PENN Entertainment 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.