Public Sector Pension Investment Board Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Public Sector Pension Investment Board acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 328,761 shares of the company’s stock, valued at approximately $6,363,000. Public Sector Pension Investment Board owned approximately 0.22% of PENN Entertainment at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in PENN Entertainment by 233.6% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of PENN Entertainment in the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new position in PENN Entertainment during the 2nd quarter valued at approximately $83,000. TFO Wealth Partners LLC increased its position in 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 period. Finally, Blue Trust Inc. lifted its stake in PENN Entertainment by 18.3% in the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock valued at $183,000 after buying an additional 1,555 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Trading Down 3.6 %

Shares of PENN opened at $18.81 on Wednesday. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. The firm’s 50 day moving average price is $18.89 and its two-hundred day moving average price is $17.99.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that PENN Entertainment, Inc. will post -1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PENN. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Stifel Nicolaus lifted their price target on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $30.00 in a report on Friday, June 21st. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Finally, Barclays boosted their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and an average price target of $23.77.

Insider Buying and Selling at PENN Entertainment

In other news, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anuj Dhanda acquired 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, with a total value of $276,000.00. Following the acquisition, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 79,200 shares of company stock worth $1,450,548. 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.