PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 11.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,337 shares of the company's stock after selling 22,469 shares during the period. California Public Employees Retirement System owned approximately 0.12% of PENN Entertainment worth $3,594,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of PENN Entertainment in the fourth quarter worth $596,000. Janus Henderson Group PLC boosted its stake in shares of PENN Entertainment by 244.7% in the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company's stock valued at $4,697,000 after buying an additional 176,844 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of PENN Entertainment by 8.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company's stock worth $11,851,000 after buying an additional 46,209 shares during the period. ING Groep NV purchased a new position in PENN Entertainment in the fourth quarter worth approximately $9,910,000. Finally, IFP Advisors Inc increased its position in shares of PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after purchasing an additional 1,052 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PENN shares. Stifel Nicolaus lowered their price objective on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company upped their price objective on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. StockNews.com raised PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Mizuho upped their target price on PENN Entertainment from $24.00 to $25.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Macquarie reiterated an "outperform" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, PENN Entertainment has a consensus rating of "Hold" and a consensus price target of $23.56.

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PENN Entertainment Price Performance

Shares of NASDAQ:PENN traded up $0.15 during midday trading on Monday, hitting $14.48. 134,714 shares of the stock were exchanged, compared to its average volume of 4,583,279. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The company has a 50 day moving average price of $18.44 and a 200-day moving average price of $19.27. The stock has a market cap of $2.22 billion, a P/E ratio of -4.08, a PEG ratio of 1.55 and a beta of 1.96.

PENN Entertainment 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.