Vanguard Discloses 7.4% Stake in PENN Entertainment

TL;DR

**Vanguard still owns a big chunk of PENN, showing continued institutional interest.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, updating its ownership in PENN Entertainment, Inc. As of December 29, 2023, Vanguard reported beneficial ownership of 11,440,637 shares of PENN Entertainment's Common Stock, representing 7.4% of the company. This is an update to their previous holdings and indicates Vanguard continues to be a significant institutional investor, which can signal long-term confidence in the stock for current and potential investors.

Why It Matters

Vanguard's continued significant ownership in PENN Entertainment suggests institutional confidence, which can be a positive signal for individual investors considering the stock.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of institutional ownership and does not indicate any immediate new risks or opportunities.

Analyst Insight

Investors should note Vanguard's continued substantial ownership as a sign of institutional presence, but this filing alone doesn't suggest a buy or sell action. It's a data point for long-term conviction.

Key Numbers

• 11,440,637 — Shares Beneficially Owned (Represents the total number of PENN Entertainment shares Vanguard holds.)
• 7.4% — Ownership Percentage (Indicates Vanguard's significant stake in PENN Entertainment.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• PENN Entertainment, Inc. (company) — subject company whose shares are being reported
• 11,440,637 (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.4% (dollar_amount) — percentage of PENN Entertainment's common stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Vanguard will likely maintain a significant stake in PENN Entertainment for the foreseeable future. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

From the Filing

0001104659-24-021691.txt : 20240213 0001104659-24-021691.hdr.sgml : 20240213 20240213171214 ACCESSION NUMBER: 0001104659-24-021691 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 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: 24629292 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: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01677-pennentertainmentinc.htm SCHEDULE 13G/A pennentertainmentinc SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 10)* Name of issuer:  Penn Entertainment Inc Title of Class of Securities:  Common Stock CUSIP Number:  707569109 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  707569109 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 53,742 7.  SOLE DISPOSITIVE POWER 14,531,892 8.  SHARED DISPOSITIVE POWER 198,028 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 14,729,920 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 9.71% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 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, PA 19610 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Bl