Public Sector Pension Investment Board Purchases New Shares in PENN Entertainment, Inc. (NASDAQ:PENN)

Public Sector Pension Investment Board acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 328,761 shares of the company's stock, valued at approximately $6,363,000. Public Sector Pension Investment Board owned about 0.22% of PENN Entertainment at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Flight Deck Capital LP purchased a new position in PENN Entertainment in the fourth quarter valued at about $3,511,000. Seven Eight Capital LP raised its stake in shares of PENN Entertainment by 95.3% during the 4th quarter. Seven Eight Capital LP now owns 213,019 shares of the company's stock worth $5,543,000 after buying an additional 103,937 shares during the period. Vanguard Group Inc. lifted its holdings in PENN Entertainment by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company's stock valued at $383,273,000 after purchasing an additional 97,945 shares in the last quarter. Gabelli Funds LLC boosted its holdings in PENN Entertainment by 50.0% in the 4th quarter. Gabelli Funds LLC now owns 24,000 shares of the company's stock worth $624,000 after buying an additional 8,000 shares during the last quarter. Finally, Capstone Investment Advisors LLC boosted its stake in shares of PENN Entertainment by 281.4% in the first quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company's stock worth $1,075,000 after acquiring an additional 43,566 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PENN Entertainment

In related news, CEO Jay A. Snowden purchased 54,200 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jay A. Snowden purchased 54,200 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was bought 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 in the company, valued at approximately $15,730,149.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Handler bought 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, with a total value of $175,100.00. Following the purchase, the director now owns 293,450 shares of the company's stock, valued at approximately $5,138,309.50. The disclosure for this purchase can be found here. Over the last three months, insiders bought 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is owned by corporate insiders.

PENN Entertainment Trading Down 0.6 %

NASDAQ PENN traded down $0.11 during trading hours on Wednesday, hitting $18.70. The company's stock had a trading volume of 5,012,247 shares, compared to its average volume of 5,513,575. 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 has a market capitalization of $2.85 billion, a P/E ratio of -2.51 and a beta of 2.10. The stock has a fifty day moving average of $18.88 and a 200 day moving average of $18.00.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the business posted $0.48 EPS. PENN Entertainment's revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts forecast that PENN Entertainment, Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PENN has been the subject of several analyst reports. Susquehanna reiterated a "positive" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, June 21st. JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Truist Financial upped their target price on PENN Entertainment from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, June 14th. Raymond James lowered shares of PENN Entertainment from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus upped their price target on PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $23.77.

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.