PENN Entertainment: Big Moves by Investors and Analysts

Investor Activity

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its holdings, selling off most of its shares.
• Trek Financial LLC entered the scene, purchasing a new stake worth $250,000.
• Principal Financial Group Inc. slightly increased its holdings.
• UBS AM and LMR Partners LLP boosted their investments, with LMR Partners making a massive increase of over 600%.
• KBC Group NV also grew its position substantially.

These moves indicate that major investors are closely watching PENN Entertainment.

Analyst Ratings and Price Targets

• Citizens Jmp upgraded its rating with a target price of $24.
• JMP Securities raised its target to $25.
• Stifel Nicolaus and Susquehanna also increased their price targets.
• Benchmark maintained a "Hold" rating.
• The consensus among analysts is a "Moderate Buy," with an average target price around $23.25.

Insider Activity

• Director David A. Handler purchased a significant number of shares, increasing his ownership by over 6%, signaling confidence in the company's future.

Stock Performance and Financials

• The stock recently opened at $18.67.
• Financials show challenges, including negative margins and a high debt-to-equity ratio.
• However, revenue is up year-over-year.
• Analysts expect a loss for the year, but the recent quarter beat expectations.

Company Overview

PENN Entertainment operates casinos and online betting platforms across various regions, offering multiple brands. The company is focused on growth in the competitive entertainment and gaming industry.