National Bank of Canada FI Buys 499,780 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

National Bank of Canada FI lifted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 49,434.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 500,791 shares of the company’s stock after purchasing an additional 499,780 shares during the period. National Bank of Canada FI’s holdings in PENN Entertainment were worth $9,926,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

PENN has been the subject of several research analyst reports. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Jefferies Financial Group upped their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, January 3rd. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Mizuho lifted their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, Macquarie reissued an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.56.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $14.29 on Friday. The business has a 50 day moving average of $19.25 and a 200-day moving average of $19.49. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 1 year low of $13.25 and a 1 year high of $23.08. The company has a market capitalization of $2.19 billion, a P/E ratio of -4.03, a P/E/G ratio of 1.55 and a beta of 1.96.

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.