Teacher Retirement System of Texas Acquires New Shares in PENN Entertainment, Inc. (NASDAQ:PENN)

Teacher Retirement System of Texas acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,062 shares of the company’s stock, valued at approximately $344,000.

A number of other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp boosted its position in PENN Entertainment by 6.7% during the first quarter. J.Safra Asset Management Corp now owns 13,877 shares of the company’s stock valued at $226,000 after purchasing an additional 877 shares during the last quarter. KBC Group NV boosted its position in PENN Entertainment by 42.2% during the first quarter. KBC Group NV now owns 7,824 shares of the company’s stock valued at $128,000 after purchasing an additional 2,323 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in PENN Entertainment by 10.7% during the first quarter. Illinois Municipal Retirement Fund now owns 98,134 shares of the company’s stock valued at $1,601,000 after purchasing an additional 9,486 shares during the last quarter. New World Advisors LLC lifted its position in shares of PENN Entertainment by 18.8% in the first quarter. New World Advisors LLC now owns 20,900 shares of the company’s stock worth $341,000 after buying an additional 3,300 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of PENN Entertainment by 56.0% in the first quarter. Blue Trust Inc. now owns 8,839 shares of the company’s stock worth $144,000 after buying an additional 3,174 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Trading Down 1.1%

PENN stock opened at $18.05 on Friday. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The firm has a market cap of $2.73 billion, a P/E ratio of -29.11 and a beta of 1.61. The business’s 50 day moving average is $16.71 and its 200-day moving average is $17.64. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted ($0.76) EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup raised PENN Entertainment to an “outperform” rating in a research report on Thursday, June 26th. Barclays reduced their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday. Canaccord Genuity Group reduced their price target on PENN Entertainment from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Stifel Nicolaus boosted their price target on PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, July 11th. Finally, JMP Securities raised PENN Entertainment from a “market perform” rating to a “market outperform” rating and set a $24.00 price target for the company in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.18.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden bought 34,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the completion of the acquisition, the chief executive officer owned 1,082,625 shares of the company’s stock, valued at approximately $15,914,587.50. This trade represents a 3.24% 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, Director David A. Handler acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $14.83 per share, for a total transaction of $148,300.00. Following the completion of the transaction, the director directly owned 322,941 shares in the company, valued at approximately $4,789,215.03. The trade was a 3.20% increase in their position. The disclosure for this purchase can be found here. 2.67% of the stock is currently owned by corporate insiders.

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.