PENN Entertainment, Inc. (NASDAQ:PENN) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,900 shares of the company’s stock after acquiring an additional 1,700 shares during the period. New York State Teachers Retirement System’s holdings in PENN Entertainment were worth $3,525,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after acquiring an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment in the 3rd quarter valued at about $45,000. International Assets Investment Management LLC increased its position 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. J.Safra Asset Management Corp acquired a new position in PENN Entertainment in the 2nd quarter valued at about $83,000. Finally, Quarry LP increased its position in PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after acquiring an additional 1,862 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PENN. Needham & Company LLC restated a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Macquarie reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Truist Financial lowered their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price objective on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and an average target price of $22.89.

PENN Entertainment Price Performance

PENN stock opened at $19.23 on Thursday. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $18.95 and its 200 day moving average price is $18.30. The firm has a market cap of $2.93 billion, a P/E ratio of -2.37 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company earned $0.48 EPS. PENN Entertainment’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts expect that PENN Entertainment, Inc. will post -1.36 earnings per share for the current fiscal year.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anuj Dhanda purchased 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is owned by corporate insiders.

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.