New York State Teachers Retirement System Sells 36,639 Shares of PENN Entertainment, Inc. $PENN

New York State Teachers Retirement System reduced its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 19.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,561 shares of the company’s stock after selling 36,639 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of PENN Entertainment worth $2,218,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of PENN Entertainment during the 4th quarter valued at about $36,000. IFP Advisors Inc increased its position in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after buying an additional 1,196 shares during the period. Modus Advisors LLC bought a new position in PENN Entertainment in the fourth quarter worth about $47,000. Triumph Capital Management bought a new position in PENN Entertainment in the third quarter worth about $54,000. Finally, Hantz Financial Services Inc. lifted its holdings in PENN Entertainment by 385.1% in the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after buying an additional 2,954 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on PENN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft increased their target price on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Mizuho raised their target price on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. The Goldman Sachs Group began coverage on PENN Entertainment in a research report on Friday, June 26th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Thursday, July 2nd. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.88.

PENN Entertainment Trading Down 1.6%

NASDAQ:PENN opened at $20.36 on Friday. The firm has a market capitalization of $2.72 billion, a P/E ratio of -3.03, a PEG ratio of 0.66 and a beta of 1.42. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. PENN Entertainment, Inc. has a one year low of $11.65 and a one year high of $22.36. The company’s 50-day simple moving average is $19.30 and its 200 day simple moving average is $16.12.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts forecast that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

PENN Entertainment Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.