PENN Entertainment, Inc. (NASDAQ:PENN) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 2.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 38,403 shares of the company’s stock after acquiring an additional 944 shares during the period. Arizona State Retirement System’s holdings in PENN Entertainment were worth $743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flight Deck Capital LP acquired a new position in shares of PENN Entertainment during the fourth quarter worth $3,511,000. Contrarius Investment Management Ltd boosted its position in PENN Entertainment by 139.0% in the 4th quarter. Contrarius Investment Management Ltd now owns 892,394 shares of the company’s stock valued at $23,220,000 after buying an additional 518,995 shares during the last quarter. Seven Eight Capital LP increased its position in shares of PENN Entertainment by 95.3% during the fourth quarter. Seven Eight Capital LP now owns 213,019 shares of the company’s stock worth $5,543,000 after acquiring an additional 103,937 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PENN Entertainment by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after acquiring an additional 97,945 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in PENN Entertainment by 50.0% in the fourth quarter. Gabelli Funds LLC now owns 24,000 shares of the company’s stock valued at $624,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PENN. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Thursday, August 8th. Truist Financial increased their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Raymond James downgraded shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $30.00 in a report on Friday, June 21st. Finally, Stifel Nicolaus lifted their price objective on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and a consensus target price of $23.77.

Insider Activity

In other news, CEO Jay A. Snowden bought 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director David A. Handler acquired 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. The disclosure for this purchase can be found here. Insiders have bought 79,200 shares of company stock worth $1,450,548 over the last 90 days. 2.19% of the stock is owned by company insiders.

PENN Entertainment Trading Up 8.4 %

PENN Entertainment stock opened at $19.90 on Friday. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The stock has a market capitalization of $3.04 billion, a PE ratio of -2.67 and a beta of 2.10. The firm has a 50 day simple moving average of $18.96 and a 200-day simple moving average of $17.91. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, equities research analysts expect that PENN Entertainment, Inc. will post -1.41 EPS for the current fiscal year.

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.