ING Groep NV Acquires New Shares in PENN Entertainment, Inc. (NASDAQ:PENN)

ING Groep NV acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 500,000 shares of the company’s stock, valued at approximately $9,910,000.

Several other large investors have also bought and sold shares of PENN. CIBC Asset Management Inc boosted its stake in shares of PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock valued at $293,000 after purchasing an additional 813 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PENN Entertainment by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 725,147 shares of the company’s stock valued at $14,372,000 after purchasing an additional 20,662 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of PENN Entertainment by 1.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 103,305 shares of the company’s stock valued at $2,048,000 after purchasing an additional 1,426 shares in the last quarter. Entropy Technologies LP boosted its stake in shares of PENN Entertainment by 49.5% during the fourth quarter. Entropy Technologies LP now owns 46,486 shares of the company’s stock valued at $921,000 after purchasing an additional 15,394 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of PENN Entertainment during the fourth quarter valued at about $211,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PENN. Jefferies Financial Group lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Susquehanna lowered their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.50.

PENN Entertainment Trading Down 1.9 %

Shares of PENN stock opened at $20.91 on Friday. The company has a market cap of $3.19 billion, a P/E ratio of -5.89, a PEG ratio of 1.58 and a beta of 2.09. The stock has a 50 day simple moving average of $20.09 and a two-hundred day simple moving average of $19.66. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two 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.