PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 448,230 shares of the company’s stock after selling 27,867 shares during the period. New York State Common Retirement Fund owned 0.30% of PENN Entertainment worth $11,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PENN. Kettle Hill Capital Management LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at $19,792,000. Source Financial Advisors LLC lifted its stake in shares of PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after purchasing an additional 294,845 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at $1,750,000. Sei Investments Co. lifted its stake in shares of PENN Entertainment by 13.9% in the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of PENN Entertainment by 20.0% in the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after purchasing an additional 896 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of research analyst reports. Truist Financial raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, April 23rd. Barclays cut their target price on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Canaccord Genuity Group cut their target price 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. Mizuho initiated coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They set a “buy” rating and a $29.00 target price for the company. Finally, Needham & Company LLC cut their target price on shares of PENN Entertainment from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

PENN Entertainment Stock Down 2.9 %

NASDAQ:PENN opened at $16.54 on Wednesday. PENN Entertainment, Inc. has a 12 month low of $15.88 and a 12 month high of $31.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50-day moving average price is $17.53 and its two-hundred day moving average price is $21.28.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. Equities analysts predict that PENN Entertainment, Inc. will post -0.9 EPS 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.