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Alaska Permanent Fund Corp Sells 44,498 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

PENN Entertainment logo with Consumer Discretionary background

Alaska Permanent Fund Corp lowered its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 60.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,668 shares of the company's stock after selling 44,498 shares during the period. Alaska Permanent Fund Corp's holdings in PENN Entertainment were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new position in PENN Entertainment during the 4th quarter worth approximately $32,000. Lindbrook Capital LLC lifted its position in PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company's stock valued at $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management purchased a new stake in PENN Entertainment in the fourth quarter valued at $40,000. Tyler Stone Wealth Management grew its position in PENN Entertainment by 34.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company's stock worth $45,000 after purchasing an additional 500 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at about $55,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Needham & Company LLC reiterated a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Wednesday, May 15th. Craig Hallum raised shares of PENN Entertainment from a "hold" rating to a "buy" rating and boosted their price target for the stock from $20.00 to $30.00 in a report on Friday. Truist Financial upped their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, June 14th. Finally, Morgan Stanley boosted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $25.10.


Read Our Latest Stock Report on PENN Entertainment

PENN Entertainment Trading Down 1.0 %

PENN Entertainment stock traded down $0.21 during trading on Friday, hitting $19.83. The company had a trading volume of 35,388,598 shares, compared to its average volume of 7,088,119. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The company's 50 day simple moving average is $16.71 and its 200-day simple moving average is $19.63. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $29.38. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -2.66 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.20). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.63 billion. As a group, analysts expect that PENN Entertainment, Inc. will post -1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David A. Handler bought 20,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $15.37 per share, with a total value of $307,400.00. Following the purchase, the director now directly owns 243,450 shares of the company's stock, valued at approximately $3,741,826.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David A. Handler acquired 40,000 shares of the business's stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $14.94 per share, with a total value of $597,600.00. Following the completion of the acquisition, the director now owns 283,450 shares in the company, valued at $4,234,743. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Handler bought 20,000 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now directly owns 243,450 shares in the company, valued at $3,741,826.50. The disclosure for this purchase can be found here. Insiders have acquired 76,157 shares of company stock worth $1,154,949 over the last three months. Company insiders own 2.19% of the company's stock.

PENN Entertainment Company 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.

See Also

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

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