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21,062 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Bought by Teacher Retirement System of Texas

PENN Entertainment logo with Consumer Discretionary background

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

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in PENN Entertainment in the 4th quarter worth approximately $27,901,000. Raymond James Financial Inc. purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $17,804,000. Invesco Ltd. raised its stake in shares of PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock valued at $76,941,000 after acquiring an additional 848,066 shares during the period. Benchstone Capital Management LP purchased a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $16,613,000. Finally, Federated Hermes Inc. purchased a new stake in shares of PENN Entertainment during the fourth quarter worth approximately $11,280,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Price Performance

NASDAQ PENN traded up $0.07 on Tuesday, hitting $18.40. 2,571,860 shares of the company were exchanged, compared to its average volume of 3,819,874. The firm has a 50 day moving average of $16.71 and a two-hundred day moving average of $17.62. The company has a market cap of $2.78 billion, a P/E ratio of -29.68 and a beta of 1.61. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.35. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08.

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

Wall Street Analysts Forecast Growth

PENN has been the topic of several recent analyst reports. Mizuho dropped their target price on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. Stifel Nicolaus increased their price target on shares of PENN Entertainment from $17.00 to $19.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Citigroup raised shares of PENN Entertainment to an "outperform" rating in a research report on Thursday, June 26th. Susquehanna reissued a "positive" rating and issued a $25.00 price objective (up previously from $24.00) on shares of PENN Entertainment in a research report on Tuesday, June 10th. Finally, Citizens Jmp raised shares of PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of "Moderate Buy" and an average target price of $23.18.

Get Our Latest Report on PENN Entertainment

Insider Transactions at PENN Entertainment

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

PENN Entertainment Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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