Teacher Retirement System of Texas Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Teacher Retirement System of Texas bought a new stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,062 shares of the company's stock, valued at approximately $344,000.

A number of other institutional investors also recently bought and sold shares of PENN. Proficio Capital Partners LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth about $596,000. Swiss National Bank boosted its holdings in shares of PENN Entertainment by 0.6% in the 4th quarter. Swiss National Bank now owns 269,284 shares of the company's stock worth $5,337,000 after purchasing an additional 1,500 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of PENN Entertainment in the 4th quarter worth approximately $92,000. Virtu Financial LLC purchased a new position in shares of PENN Entertainment in the 4th quarter worth approximately $272,000. Finally, AXQ Capital LP purchased a new stake in PENN Entertainment in the fourth quarter worth $911,000. Institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Performance

PENN traded down $0.20 on Friday, hitting $18.05. 2,947,508 shares of the company traded hands, compared to its average volume of 3,828,415. The company has a 50 day moving average of $16.71 and a 200-day moving average of $17.64. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $2.73 billion, a PE ratio of -29.11 and a beta of 1.61. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.71 billion. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) EPS. Sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 5th. Mizuho cut their price objective on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. JMP Securities upgraded PENN Entertainment from a "market perform" rating to a "market outperform" rating and set a $24.00 target price on the stock in a research note on Thursday, June 26th. Citizens Jmp upgraded PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 price target on the stock in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. began coverage on PENN Entertainment in a research report on Monday, June 23rd. They set an "overweight" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.18.

Insiders Place Their Bets

In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $14.83 per share, with a total value of $148,300.00. Following the purchase, the director directly owned 322,941 shares in the company, valued at $4,789,215.03. This trade represents a 3.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay A. Snowden purchased 34,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The shares were acquired at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the purchase, the chief executive officer owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.67% of the stock is currently owned by corporate insiders.

About PENN Entertainment

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.