Public Sector Pension Investment Board Increases Stake in PENN Entertainment, Inc. $PENN

Public Sector Pension Investment Board boosted its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 547,984 shares of the company’s stock after buying an additional 51,921 shares during the period. Public Sector Pension Investment Board owned 0.38% of PENN Entertainment worth $10,554,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PENN. Cloud Capital Management LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter valued at approximately $54,000. GAMMA Investing LLC lifted its position in PENN Entertainment by 22.4% during the third quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after buying an additional 556 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of PENN Entertainment by 33.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock valued at $65,000 after buying an additional 825 shares in the last quarter. CWM LLC grew its position in shares of PENN Entertainment by 89.6% in the 3rd quarter. CWM LLC now owns 7,964 shares of the company’s stock worth $153,000 after buying an additional 3,764 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of PENN Entertainment by 20.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,358 shares of the company’s stock worth $149,000 after buying an additional 1,446 shares during the period. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PENN has been the topic of several research reports. Citigroup reissued a “market outperform” rating on shares of PENN Entertainment in a research note on Monday, December 1st. Morgan Stanley dropped their price target on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 16th. Wells Fargo & Company began coverage on PENN Entertainment in a research report on Tuesday, November 18th. They set an “underweight” rating and a $15.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their target price on PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

PENN Entertainment Stock Performance

Shares of PENN opened at $11.76 on Monday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -1.85, a P/E/G ratio of 0.39 and a beta of 1.39. The business’s fifty day simple moving average is $13.98 and its two-hundred day simple moving average is $16.22. PENN Entertainment, Inc. has a 12 month low of $11.66 and a 12 month high of $23.08. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.65.

Insider Transactions at PENN Entertainment

In related news, CFO Felicia Hendrix purchased 7,315 shares of PENN Entertainment stock in a transaction dated Friday, November 21st. The stock was purchased at an average cost of $13.79 per share, for a total transaction of $100,873.85. Following the completion of the purchase, the chief financial officer directly owned 119,448 shares of the company’s stock, valued at $1,647,187.92. The trade was a 6.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.67% of the company’s stock.

PENN Entertainment Company Profile

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.