Connor Clark & Lunn Investment Management Ltd. Buys New Position in PENN Entertainment, Inc. $PENN

Posted by Francis Steltz on Aug 26th, 2026

Connor Clark & Lunn Investment Management Ltd. purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,004,659 shares of the company’s stock, valued at approximately $21,460,000. Connor Clark & Lunn Investment Management Ltd. owned 0.75% of PENN Entertainment as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of PENN Entertainment in the second quarter worth $66,000. Quantbot Technologies LP bought a new position in PENN Entertainment during the second quarter worth $277,000. Evolve Private Wealth LLC acquired a new position in PENN Entertainment during the 2nd quarter valued at $241,000. Ieq Capital LLC acquired a new position in PENN Entertainment during the 2nd quarter valued at $3,190,000. Finally, Allworth Financial LP bought a new stake in PENN Entertainment in the 2nd quarter valued at $131,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PENN has been the topic of several research analyst reports. Zacks Research downgraded shares of PENN Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Bank of America increased their target price on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Jefferies Financial Group reissued a “hold” rating and set a $22.00 target price on shares of PENN Entertainment in a research report on Friday, August 7th. Citizens Jmp upped their price target on PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company reduced their price objective on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of “Moderate Buy” and an average price target of $23.53.

Get Our Latest Stock Report on PENN

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $17.75 on Wednesday. PENN Entertainment, Inc. has a 1 year low of $11.65 and a 1 year high of $22.36. The firm has a 50 day moving average of $20.32 and a 200-day moving average of $17.42. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. The stock has a market capitalization of $2.38 billion, a P/E ratio of -2.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.43.

PENN Entertainment (NASDAQ:PENN – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. As a group, sell-side analysts anticipate that PENN Entertainment, Inc. will post 1.19 EPS for the current fiscal year.

PENN Entertainment Company Profile

(Free Report)

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.