PENN Entertainment, Inc. (NASDAQ:PENN) Holdings Decreased by Harbert Fund Advisors Inc.

Harbert Fund Advisors Inc. cut its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 518,272 shares of the company's stock after selling 90,000 shares during the quarter. PENN Entertainment comprises about 5.4% of Harbert Fund Advisors Inc.'s holdings, making the stock its 2nd largest position. Harbert Fund Advisors Inc. owned 0.34% of PENN Entertainment worth $10,272,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in PENN Entertainment during the 4th quarter valued at about $596,000. Harbor Capital Advisors Inc. boosted its position in PENN Entertainment by 8.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company's stock worth $11,851,000 after purchasing an additional 46,209 shares during the last quarter. ING Groep NV purchased a new stake in PENN Entertainment in the fourth quarter worth about $9,910,000. IFP Advisors Inc increased its stake in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after buying an additional 1,052 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PENN Entertainment by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company's stock worth $26,503,000 after acquiring an additional 55,138 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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PENN Entertainment Stock Down 0.8 %

PENN traded down $0.11 during mid-day trading on Wednesday, reaching $14.16. 755,326 shares of the stock were exchanged, compared to its average volume of 4,502,050. The company has a 50 day moving average price of $18.18 and a two-hundred day moving average price of $19.20. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $2.17 billion, a PE ratio of -3.99, a price-to-earnings-growth ratio of 1.55 and a beta of 1.96. PENN Entertainment, Inc. has a 1 year low of $13.25 and a 1 year high of $23.08.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PENN. Stifel Nicolaus cut their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Macquarie reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, February 28th. JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Mizuho boosted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Finally, Susquehanna decreased their price objective on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $23.28.

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.