Teacher Retirement System of Texas Has $872,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Posted by Defense World Staff on Jun 12th, 2023

Teacher Retirement System of Texas trimmed its stake in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,357 shares of the company’s stock after selling 2,516 shares during the quarter. Teacher Retirement System of Texas’ holdings in PENN Entertainment were worth $872,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. HG Vora Capital Management LLC grew its stake in PENN Entertainment by 114.3% in the third quarter. HG Vora Capital Management LLC now owns 7,500,000 shares of the company’s stock valued at $206,325,000 after purchasing an additional 4,000,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in PENN Entertainment by 79.3% in the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock worth $75,891,000 after acquiring an additional 791,500 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PENN Entertainment by 52.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,660,716 shares of the company’s stock valued at $45,686,000 after purchasing an additional 574,239 shares in the last quarter. Earnest Partners LLC increased its position in PENN Entertainment by 42.8% in the first quarter. Earnest Partners LLC now owns 1,662,997 shares of the company’s stock worth $70,544,000 after buying an additional 498,084 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of PENN Entertainment by 395.4% during the third quarter. Marshall Wace LLP now owns 568,874 shares of the company’s stock valued at $15,650,000 after buying an additional 454,033 shares during the period. Institutional investors own 84.40% of the company’s stock.

PENN Entertainment Price Performance

PENN opened at $26.20 on Monday. PENN Entertainment, Inc. has a 52-week low of $23.16 and a 52-week high of $39.35. The stock has a market capitalization of $4.04 billion, a P/E ratio of 6.47, a P/E/G ratio of 5.21 and a beta of 2.22. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.35 and a current ratio of 1.38. The company’s 50-day simple moving average is $27.21 and its two-hundred day simple moving average is $30.00.

Wall Street Analyst Weigh In

PENN has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on PENN Entertainment from $31.00 to $30.00 in a report on Friday, May 5th. Roth Mkm raised PENN Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $40.00 in a research report on Tuesday, May 2nd. StockNews.com began coverage on PENN Entertainment in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Wells Fargo & Company cut their price target on PENN Entertainment from $31.00 to $27.00 in a report on Friday, May 5th. Finally, Morgan Stanley lowered their price target on PENN Entertainment from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 1st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.65.

PENN Entertainment Profile

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PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.