Illinois Municipal Retirement Fund Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Illinois Municipal Retirement Fund acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,648 shares of the company’s stock, valued at approximately $1,757,000. Illinois Municipal Retirement Fund owned approximately 0.06% of PENN Entertainment at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after acquiring an additional 3,057 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment in the 3rd quarter worth approximately $45,000. Nisa Investment Advisors LLC boosted its position in PENN Entertainment by 4.0% during 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 during the period. New York State Teachers Retirement System grew its holdings in PENN Entertainment by 0.9% during the third quarter. New York State Teachers Retirement System now owns 186,900 shares of the company’s stock valued at $3,525,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of PENN Entertainment by 82.0% in the third quarter. Harbor Capital Advisors Inc. now owns 551,733 shares of the company’s stock valued at $10,406,000 after purchasing an additional 248,644 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PENN. Bank of America initiated coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price on the stock. Macquarie reaffirmed an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Susquehanna lowered their target price on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Hold” and an average target price of $23.38.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $21.51 on Friday. The firm has a market capitalization of $3.28 billion, a P/E ratio of -6.06, a P/E/G ratio of 1.55 and a beta of 2.09. The stock has a fifty day moving average price of $20.29 and a two-hundred day moving average price of $19.78. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $23.08. 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.