New York State Teachers Retirement System Sells 36,639 Shares of PENN Entertainment, Inc. $PENN

New York State Teachers Retirement System lessened its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,561 shares of the company’s stock after selling 36,639 shares during the quarter. New York State Teachers Retirement System’s holdings in PENN Entertainment were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PENN. Y Intercept Hong Kong Ltd purchased a new position in PENN Entertainment in the first quarter worth about $3,091,000. Pictet Asset Management Holding SA grew its holdings in shares of PENN Entertainment by 16.5% during the first quarter. Pictet Asset Management Holding SA now owns 23,829 shares of the company’s stock valued at $358,000 after buying an additional 3,368 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of PENN Entertainment during the first quarter valued at approximately $849,000. Blue Trust Inc. raised its holdings in PENN Entertainment by 59.5% in the 1st quarter. Blue Trust Inc. now owns 9,782 shares of the company’s stock worth $147,000 after acquiring an additional 3,649 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new position in PENN Entertainment in the 4th quarter worth approximately $176,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

Shares of PENN opened at $20.36 on Friday. The firm has a market capitalization of $2.72 billion, a P/E ratio of -3.03, a PEG ratio of 0.66 and a beta of 1.42. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $22.36. The business has a fifty day moving average of $19.30 and a 200 day moving average of $16.12.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.PENN Entertainment’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, sell-side analysts anticipate that PENN Entertainment, Inc. will post 1.02 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Wells Fargo & Company boosted their price target on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Susquehanna upped their price target on PENN Entertainment from $24.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft increased their price objective on PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 24th. Finally, Morgan Stanley boosted their target price on PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $21.88.

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.