FMR LLC & Abigail Johnson Boost PENN Stake to 10.358%

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

From the Filing

0000315066-24-001284.txt : 20240209 0000315066-24-001284.hdr.sgml : 20240209 20240209092831 ACCESSION NUMBER: 0000315066-24-001284 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENN Entertainment, Inc. CENTRAL INDEX KEY: 0000921738 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 232234473 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45655 FILM NUMBER: 24611861 BUSINESS ADDRESS: STREET 1: 825 BERKSHIRE BLVD STE 200 STREET 2: WYOMISSING PROFESSIONAL CENTER CITY: WYOMISSING STATE: PA ZIP: 19610 BUSINESS PHONE: 6103732400 MAIL ADDRESS: STREET 1: 825 BERKSHIRE BLVD STREET 2: SUITE 200 CITY: WYOMISSING STATE: PA ZIP: 19610 FORMER COMPANY: FORMER CONFORMED NAME: PENN NATIONAL GAMING INC DATE OF NAME CHANGE: 19940415 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.7 PENN ENTERTAINMENT INC COMMON STOCK Cusip #707569109 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #707569109 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 15,103,485 Item 6: 0 Item 7: 15,824,941 Item 8: 0 Item 9: 15,824,941 Item 11: 10.358% Item 12: HC Cusip #707569109 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 15,824,941 Item 8: 0 Item 9: 15,824,941 Item 11: 10.358% Item 12: IN Item 1(a). Name of Issuer: PENN ENTERTAINMENT INC Item 1(b). Address of Issuer's Principal Executive Offices: 825 Berkshire Boulevard, Suite 200 Wyomissing Professional Center Wyomissing, PA 19610 Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 707569109 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 15,824,941 (b) Percent of Class: 10.358% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 15,824,941 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of PENN ENTERTAINMENT INC. No one other person's interest in the COMMON STOCK of PENN ENTERTAINMENT INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classific