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

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 53.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 179,377 shares of the company’s stock after selling 202,103 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of PENN Entertainment worth $3,555,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. AlphaQuest LLC increased its position in shares of PENN Entertainment by 379.7% during the fourth quarter. AlphaQuest LLC now owns 14,234 shares of the company’s stock valued at $282,000 after buying an additional 11,267 shares during the period. Inceptionr LLC bought a new stake in PENN Entertainment during the 4th quarter worth approximately $272,000. Raymond James Financial Inc. purchased a new stake in PENN Entertainment in the 4th quarter worth approximately $17,804,000. Proficio Capital Partners LLC purchased a new position in shares of PENN Entertainment during the 4th quarter valued at $596,000. Finally, M&T Bank Corp increased its holdings in shares of PENN Entertainment by 4.7% in the fourth quarter. M&T Bank Corp now owns 13,044 shares of the company’s stock worth $259,000 after purchasing an additional 584 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Up 1.0 %

Shares of NASDAQ PENN opened at $17.26 on Tuesday. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -4.86, a PEG ratio of 1.55 and a beta of 2.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm’s fifty day moving average is $20.10 and its 200 day moving average is $19.69. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $23.08.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PENN shares. Stifel Nicolaus upped their target price on PENN Entertainment from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Tuesday, February 11th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Mizuho lifted their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Finally, Needham & Company LLC dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and an average target price of $23.69.

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.