Impax Asset Management Group plc Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Impax Asset Management Group plc acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,145 shares of the company’s stock, valued at approximately $677,000.

A number of other hedge funds also recently added to or reduced their stakes in PENN. Raymond James & Associates lifted its stake in PENN Entertainment by 159.1% in the third quarter. Raymond James & Associates now owns 403,699 shares of the company’s stock worth $7,614,000 after acquiring an additional 247,873 shares during the period. International Assets Investment Management LLC raised its holdings in PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment in the third quarter worth about $45,000. Nisa Investment Advisors LLC raised its holdings in PENN Entertainment by 4.0% in the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock worth $328,000 after purchasing an additional 665 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in PENN Entertainment by 0.9% in the third quarter. New York State Teachers Retirement System now owns 186,900 shares of the company’s stock worth $3,525,000 after purchasing an additional 1,700 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Bank of America initiated coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price for the company. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and an average price target of $23.50.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $20.37 on Wednesday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -5.74, a PEG ratio of 1.55 and a beta of 2.09. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $23.08. The firm’s 50 day simple moving average is $20.12 and its 200-day simple moving average is $19.73. 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 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.