ING Groep NV Invests $9.91 Million in PENN Entertainment, Inc. (NASDAQ:PENN)

ING Groep NV acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $9,910,000. ING Groep NV owned approximately 0.33% of PENN Entertainment as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in PENN Entertainment in the 3rd quarter valued at $45,000. Quest Partners LLC bought a new stake in PENN Entertainment in the 3rd quarter valued at $56,000. Modus Advisors LLC bought a new stake in PENN Entertainment in the 4th quarter valued at $63,000. International Assets Investment Management LLC raised its stake in PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after acquiring an additional 3,057 shares during the period. Finally, KBC Group NV raised its stake in PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after acquiring an additional 1,470 shares during the period. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Finally, Jefferies Financial Group increased their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

PENN Entertainment Stock Performance

PENN opened at $20.91 on Friday. The business’s fifty day moving average is $20.09 and its 200-day moving average is $19.66. The firm has a market cap of $3.19 billion, a P/E ratio of -5.89, a price-to-earnings-growth ratio of 1.58 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. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-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.