Impax Asset Management Group plc Makes New $677,000 Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Impax Asset Management Group plc bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 34,145 shares of the company’s stock, valued at approximately $677,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PENN. IFP Advisors Inc raised its holdings in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after acquiring an additional 1,052 shares during the period. New World Advisors LLC raised its holdings in shares of PENN Entertainment by 11.4% during the 4th quarter. New World Advisors LLC now owns 17,600 shares of the company’s stock worth $349,000 after acquiring an additional 1,800 shares during the period. ING Groep NV purchased a new position in shares of PENN Entertainment during the 4th quarter worth $9,910,000. CIBC Asset Management Inc raised its holdings in shares of PENN Entertainment by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock worth $293,000 after acquiring an additional 813 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of PENN Entertainment by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 725,147 shares of the company’s stock worth $14,372,000 after acquiring an additional 20,662 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Susquehanna reduced their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. Macquarie boosted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, November 8th. Finally, StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment presently has an average rating of “Hold” and an average target price of $23.50.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $20.37 on Wednesday. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $23.08. The company has a market cap of $3.11 billion, a PE ratio of -5.74, a P/E/G ratio of 1.55 and a beta of 2.09. 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 business has a 50-day simple moving average of $20.12 and a 200-day simple moving average of $19.73.

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.