Harbor Capital Advisors Inc. Grows Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Harbor Capital Advisors Inc. boosted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 597,942 shares of the company’s stock after buying an additional 46,209 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in PENN Entertainment were worth $11,851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment during the 3rd quarter valued at about $45,000. GAMMA Investing LLC increased its stake in PENN Entertainment by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares during the period. Quest Partners LLC bought a new stake in PENN Entertainment during the 3rd quarter valued at about $56,000. International Assets Investment Management LLC boosted its position in PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares during the period. Finally, Modus Advisors LLC bought a new position in PENN Entertainment in the 4th quarter worth about $63,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

NASDAQ:PENN traded down $0.29 during trading hours on Friday, reaching $18.00. 2,481,344 shares of the company were exchanged, compared to its average volume of 3,693,520. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market cap of $2.75 billion, a PE ratio of -5.07 and a beta of 2.08. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $24.57. The stock’s 50-day moving average is $19.87 and its 200-day moving average is $19.31.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $1.21 EPS. PENN Entertainment’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on PENN. Barclays cut their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Morgan Stanley reduced their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Bank of America started coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.44.

About PENN Entertainment

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