Harbor Capital Advisors Inc. Acquires 46,209 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Harbor Capital Advisors Inc. lifted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 597,942 shares of the company’s stock after purchasing an additional 46,209 shares during the period. Harbor Capital Advisors Inc. owned about 0.39% of PENN Entertainment worth $11,851,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PENN. M&T Bank Corp increased its stake in PENN Entertainment by 4.2% in the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after purchasing an additional 497 shares during the period. XTX Topco Ltd raised its stake in PENN Entertainment by 2.8% in the third quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after buying an additional 641 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after purchasing an additional 665 shares during the period. United Services Automobile Association increased its stake in shares of PENN Entertainment by 6.3% in the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock worth $232,000 after acquiring an additional 712 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in PENN Entertainment by 2.5% in the second quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock worth $743,000 after purchasing an additional 944 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ PENN traded down $0.29 during mid-day trading on Friday, reaching $18.00. The company’s stock had a trading volume of 2,481,344 shares, compared to its average volume of 3,693,520. The stock has a fifty day moving average of $19.87 and a two-hundred day moving average of $19.31. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $24.57. The firm has a market capitalization of $2.75 billion, a PE ratio of -5.07 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.21 EPS. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. Bank of America began coverage on PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price target for the company. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Morgan Stanley decreased their price objective 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and a consensus price target of $23.44.

PENN Entertainment Company Profile

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.