Maryland State Retirement & Pension System Sells 6,469 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Maryland State Retirement & Pension System decreased its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 11.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 52,229 shares of the company’s stock after selling 6,469 shares during the period. Maryland State Retirement & Pension System’s holdings in PENN Entertainment were worth $852,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. DME Capital Management LP boosted its position in PENN Entertainment by 2.3% during the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock valued at $113,934,000 after purchasing an additional 127,670 shares during the last quarter. Invesco Ltd. boosted its holdings 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 buying an additional 848,066 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PENN Entertainment by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company’s stock valued at $49,572,000 after buying an additional 152,791 shares in the last quarter. Kettle Hill Capital Management LLC increased its holdings in PENN Entertainment by 43.1% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock worth $35,711,000 after buying an additional 542,585 shares during the last quarter. Finally, Long Focus Capital Management LLC increased its holdings in PENN Entertainment by 3.0% during the fourth quarter. Long Focus Capital Management LLC now owns 1,545,000 shares of the company’s stock worth $30,622,000 after buying an additional 45,000 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Up 1.7%

PENN opened at $17.09 on Wednesday. The stock has a fifty day moving average of $17.58 and a 200-day moving average of $17.42. The company has a market capitalization of $2.50 billion, a P/E ratio of -30.52 and a beta of 1.60. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.14. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned ($0.18) earnings per share. PENN Entertainment’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler acquired 20,000 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $16.96 per share, for a total transaction of $339,200.00. Following the purchase, the director directly owned 342,941 shares in the company, valued at approximately $5,816,279.36. The trade was a 6.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay A. Snowden acquired 34,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $14.70 per share, with a total value of $499,800.00. Following the completion of the acquisition, the chief executive officer directly owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. This represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 64,000 shares of company stock worth $987,300 over the last ninety days. Insiders own 2.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PENN. Mizuho cut their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. Morgan Stanley reiterated a “sell” rating on shares of PENN Entertainment in a research note on Friday, July 11th. Wall Street Zen downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus upped their price objective on PENN Entertainment from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, July 11th. Finally, Barclays decreased their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and a consensus target price of $23.25.

PENN Entertainment Company 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.