BlackRock Amends PENN Entertainment Stake as of Dec 31, 2023
Ticker: PENN · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 921738
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock updated its PENN Entertainment stake, signaling its current institutional position.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, indicating a change in their ownership of PENN Entertainment, Inc. common stock as of December 31, 2023. This amendment, number 11, shows BlackRock's passive investment in the casino and online gaming company. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can signal their confidence (or lack thereof) in the company's future prospects, potentially influencing other investors.
Why It Matters
This filing shows BlackRock's updated ownership in PENN Entertainment, providing transparency on a significant institutional investor's position, which can influence market sentiment.
Risk Assessment
Risk Level: low — This is a routine disclosure of an institutional investor's holdings and does not indicate any immediate financial risk to the company.
Analyst Insight
Investors should note BlackRock's continued, albeit potentially adjusted, passive stake in PENN Entertainment. While this filing doesn't detail the exact change in shares or percentage, it confirms BlackRock's ongoing institutional interest. Smart investors might look for the full details of the ownership change within the complete filing to assess BlackRock's updated conviction.
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- PENN Entertainment, Inc. (company) — the subject company whose stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A
- Amendment No: 11 (number) — the specific amendment number for this filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing under the Securities Exchange Act of 1934.
Who is the 'subject company' in this filing?
The subject company is PENN Entertainment, Inc., identified by CIK 0000921738 and CUSIP Number 707569109.
Who is the 'filed by' entity in this document?
The entity that filed this document is BlackRock Inc., identified by CIK 0001364742.
What was the 'Date of Event Which Requires Filing of this Statement'?
The date of the event which requires filing of this statement was December 31, 2023.
What rule is BlackRock Inc. filing under for this Schedule 13G/A?
BlackRock Inc. is filing under Rule 13d-1(b), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding PENN Entertainment, Inc. (PENN).