State of New Jersey Common Pension Fund D Has $2.30 Million Holdings in PENN Entertainment, Inc. $PENN

State of New Jersey Common Pension Fund D grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 39.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,475 shares of the company’s stock after buying an additional 36,661 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.09% of PENN Entertainment worth $2,296,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC raised its position in PENN Entertainment by 152.2% in 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 during the last quarter. Quarry LP purchased a new stake in shares of PENN Entertainment during the 1st quarter valued at $30,000. GAMMA Investing LLC increased its position 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 purchasing an additional 736 shares during the last quarter. State of Wyoming purchased a new stake in shares of PENN Entertainment during the 1st quarter valued at $46,000. Finally, Ancora Advisors LLC increased its position in shares of PENN Entertainment by 208.8% during the 1st quarter. Ancora Advisors LLC now owns 6,855 shares of the company’s stock valued at $112,000 after purchasing an additional 4,635 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PENN has been the subject of several research analyst reports. Wall Street Zen lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Barclays cut their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Morgan Stanley restated a “sell” rating on shares of PENN Entertainment in a research note on Friday, July 11th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Tuesday, October 14th. Finally, Citigroup restated an “outperform” rating on shares of PENN Entertainment in a research note on Friday, August 8th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.80.

PENN Entertainment Trading Down 3.8%

NASDAQ PENN opened at $17.35 on Wednesday. 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 $2.53 billion, a PE ratio of -30.98 and a beta of 1.60. The stock’s 50 day moving average is $18.80 and its 200 day moving average is $17.40. 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 (NASDAQ:PENN) last released its 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 return on equity of 4.36% and a negative net margin of 1.12%.The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted ($0.18) earnings per share. The company’s quarterly 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.

Insider Buying and Selling

In other news, Director David A. Handler acquired 20,000 shares of PENN Entertainment stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the transaction, the director owned 342,941 shares in the company, valued at $5,816,279.36. The trade was a 6.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.67% of the company’s stock.

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.