FMR LLC & Abigail Johnson Boost PENN Stake to 10.358%
Ticker: PENN · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 921738
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, stake-change
TL;DR
**FMR LLC and Abigail Johnson now own 10.358% of PENN, a significant institutional stake.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in PENN Entertainment, Inc. (PENN) to 10.358% as of February 9, 2024. This represents beneficial ownership of 15,824,941 shares of common stock. This matters to investors because FMR LLC is a significant institutional holder, and changes in their position can signal their confidence (or lack thereof) in PENN's future performance, potentially influencing other investors and the stock price.
Why It Matters
Large institutional ownership changes can signal confidence or concern in a company's future, potentially influencing market sentiment and stock price for PENN Entertainment.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility risk for the stock.
Analyst Insight
Investors should note the continued significant institutional ownership by FMR LLC, which suggests a long-term interest in PENN. While not a direct buy signal, it indicates a major player sees value. Monitor future 13G/A filings for any significant changes in this stake.
Key Numbers
- 15,824,941 — Shares Beneficially Owned (Represents the total common stock shares of PENN Entertainment held by FMR LLC and Abigail P. Johnson.)
- 10.358% — Percentage of Class (Indicates the significant portion of PENN Entertainment's common stock owned by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- PENN Entertainment, Inc. (company) — the issuer of the securities
- 15,824,941 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 10.358% (dollar_amount) — percentage of PENN's common stock beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant ownership stake in PENN Entertainment, Inc. (FMR LLC) — high confidence, target: Next 12 months
FAQ
Who are the primary reporting persons in this SC 13G/A filing for PENN Entertainment, Inc.?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of PENN Entertainment, Inc. common shares beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each beneficially own 15,824,941 shares of PENN Entertainment, Inc. common stock, as detailed in Item 7 for both reporting persons.
What percentage of PENN Entertainment, Inc.'s common stock do FMR LLC and Abigail P. Johnson collectively own?
FMR LLC and Abigail P. Johnson collectively own 10.358% of PENN Entertainment, Inc.'s common stock, as indicated in Item 11 for both reporting persons.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as designated by the 'x' in the appropriate box on the first page of the filing.
What is the CUSIP number for PENN Entertainment, Inc. common stock?
The CUSIP number for PENN Entertainment, Inc. common stock is #707569109, as stated multiple times in the filing, including under Item 2(e).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding PENN Entertainment, Inc. (PENN).