State of Alaska Department of Revenue Increases Holdings in PENN Entertainment, Inc. $PENN

State of Alaska Department of Revenue lifted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,631 shares of the company’s stock after buying an additional 3,726 shares during the period. State of Alaska Department of Revenue owned about 0.06% of PENN Entertainment worth $1,547,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of PENN Entertainment by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock valued at $43,000 after buying an additional 736 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of PENN Entertainment by 152.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock valued at $25,000 after buying an additional 843 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in shares of PENN Entertainment by 6.7% during the 1st quarter. J.Safra Asset Management Corp now owns 13,877 shares of the company’s stock valued at $226,000 after buying an additional 877 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of PENN Entertainment by 5.2% during the 1st quarter. HighTower Advisors LLC now owns 19,327 shares of the company’s stock valued at $315,000 after buying an additional 953 shares in the last quarter. Finally, Arizona State Retirement System grew its position in PENN Entertainment by 4.3% during the 1st quarter. Arizona State Retirement System now owns 41,433 shares of the company’s stock worth $676,000 after acquiring an additional 1,707 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PENN has been the topic of several recent research reports. Citigroup restated an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Needham & Company LLC reduced their price target on PENN Entertainment from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Barclays reduced their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of PENN Entertainment in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.25.

Insider Buying and Selling at PENN Entertainment

In other news, Director David A. Handler purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the transaction, the director directly owned 342,941 shares of the company’s stock, valued at $5,816,279.36. This trade represents a 6.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.67% of the stock is owned by corporate insiders.

PENN Entertainment Trading Down 0.7%

NASDAQ PENN opened at $19.00 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The firm has a market capitalization of $2.77 billion, a PE ratio of -33.93 and a beta of 1.60. The stock’s 50 day moving average is $18.97 and its 200 day moving average is $17.24.

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

About PENN Entertainment

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.