Retirement Systems of Alabama Cuts Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Retirement Systems of Alabama trimmed its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 32.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,070 shares of the company's stock after selling 90,116 shares during the period. Retirement Systems of Alabama owned about 0.13% of PENN Entertainment worth $4,946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC purchased a new stake in shares of PENN Entertainment during the fourth quarter valued at $32,000. Huntington National Bank boosted its position in PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company's stock valued at $32,000 after buying an additional 1,072 shares during the period. Lindbrook Capital LLC grew its stake in PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company's stock worth $40,000 after acquiring an additional 553 shares in the last quarter. Signaturefd LLC increased its position in shares of PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company's stock worth $44,000 after acquiring an additional 727 shares during the period. Finally, Tyler Stone Wealth Management raised its stake in shares of PENN Entertainment by 34.0% during the third quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company's stock valued at $45,000 after acquiring an additional 500 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Mizuho lifted their price objective on PENN Entertainment from $29.00 to $32.00 and gave the company a "buy" rating in a report on Friday. StockNews.com lowered shares of PENN Entertainment from a "hold" rating to a "sell" rating in a research note on Wednesday, March 6th. Truist Financial raised shares of PENN Entertainment from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group lowered their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.92.

PENN Entertainment Stock Up 1.9 %

Shares of PENN Entertainment stock traded up $0.29 during trading on Monday, reaching $15.41. The company's stock had a trading volume of 5,187,172 shares, compared to its average volume of 5,913,446. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $29.38. The company has a 50-day simple moving average of $17.44 and a two-hundred day simple moving average of $21.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.54 billion. As a group, equities analysts forecast that PENN Entertainment, Inc. will post -0.9 earnings per share for the current year.

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.