Public Sector Pension Investment Board Purchases 51,921 Shares of PENN Entertainment, Inc. $PENN

Public Sector Pension Investment Board lifted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 10.5% during the 3rd quarter, Holdings Channel.com reports. 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’s holdings in PENN Entertainment were worth $10,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Caxton Associates LLP bought a new position in PENN Entertainment in the 1st quarter worth $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PENN Entertainment by 30.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 344,565 shares of the company’s stock worth $5,620,000 after buying an additional 79,978 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of PENN Entertainment by 13.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,089 shares of the company’s stock valued at $270,000 after buying an additional 1,794 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of PENN Entertainment during the 2nd quarter valued at approximately $2,079,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in PENN Entertainment by 39.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 128,475 shares of the company’s stock worth $2,296,000 after acquiring an additional 36,661 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Felicia Hendrix bought 7,315 shares of the 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 transaction, the chief financial officer owned 119,448 shares of the company’s stock, valued at $1,647,187.92. The trade was a 6.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.67% of the stock is owned by corporate insiders.

PENN Entertainment Trading Down 5.2%

Shares of PENN Entertainment stock opened at $11.76 on Monday. PENN Entertainment, Inc. has a twelve month low of $11.66 and a twelve month high of $23.08. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.65. The business has a 50-day moving average price of $13.98 and a 200-day moving average price of $16.22. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -1.85, a PEG ratio of 0.39 and a beta of 1.39.

Analyst Upgrades and Downgrades

PENN has been the topic of several analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of PENN Entertainment in a report on Monday, December 1st. Wells Fargo & Company assumed coverage on shares of PENN Entertainment in a report on Tuesday, November 18th. They issued an “underweight” rating and a $15.00 target price for the company. Canaccord Genuity Group decreased their price target on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, December 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 7th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.00.

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.