PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 14.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 111,515 shares of the company’s stock after selling 18,641 shares during the quarter. Texas Permanent School Fund Corp’s holdings in PENN Entertainment were worth $2,158,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of PENN Entertainment by 233.6% during the second 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 in the last quarter. Neo Ivy Capital Management acquired a new position in PENN Entertainment during the 4th quarter valued at approximately $40,000. TFO Wealth Partners LLC raised its holdings in shares of PENN Entertainment by 123,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after buying an additional 3,691 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of PENN Entertainment during the second quarter worth $83,000. Finally, Quest Partners LLC purchased a new stake in shares of PENN Entertainment during the fourth quarter valued at $205,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Down 1.2 %

PENN Entertainment stock opened at $19.78 on Wednesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $3.02 billion, a PE ratio of -2.66 and a beta of 2.10. The business has a 50 day simple moving average of $18.95 and a 200-day simple moving average of $17.93. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $27.20.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PENN. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft upped their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Raymond James lowered shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Barclays upped their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Macquarie reissued an “outperform” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, August 9th. One equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.77.

Insider Buying and Selling

In other news, Director David A. Handler acquired 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 purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now owns 31,523 shares of the company’s stock, valued at approximately $580,023.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Handler bought 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, with a total value of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. The disclosure for this purchase can be found here. Insiders purchased a total of 79,200 shares of company stock worth $1,450,548 in the last 90 days. Insiders own 2.19% of the company’s stock.

About PENN Entertainment

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.