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

Harbor Capital Advisors Inc. lifted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 82.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 551,733 shares of the company's stock after purchasing an additional 248,644 shares during the quarter. Harbor Capital Advisors Inc. owned 0.36% of PENN Entertainment worth $10,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $28,000 after purchasing an additional 1,009 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment in the third quarter valued at approximately $45,000. International Assets Investment Management LLC grew its stake in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company's stock worth $61,000 after buying an additional 3,057 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of PENN Entertainment in the 2nd quarter valued at $83,000. Finally, Quarry LP grew its position in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company's stock worth $83,000 after acquiring an additional 1,862 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Craig Hallum reissued a "buy" rating and set a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Needham & Company LLC restated a "buy" rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Tuesday, October 8th. JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a report on Friday, October 4th. Mizuho decreased their price target on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. Finally, Barclays lowered their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.96.

PENN Entertainment Stock Down 1.5 %

NASDAQ PENN traded down $0.30 during mid-day trading on Friday, hitting $19.45. The company's stock had a trading volume of 2,228,334 shares, compared to its average volume of 2,778,007. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The company's 50 day simple moving average is $18.97 and its 200 day simple moving average is $18.26. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -2.40 and a beta of 2.09. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period last year, the business earned $0.48 EPS. The business's revenue was down .7% on a year-over-year basis. Analysts anticipate that PENN Entertainment, Inc. will post -1.36 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares of the company's stock, valued at $15,730,149.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director David A. Handler purchased 10,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now owns 293,450 shares of the company's stock, valued at $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the transaction, the chief executive officer now directly owns 853,045 shares of the company's stock, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 79,200 shares of company stock worth $1,450,548. Insiders own 2.19% of the company's stock.

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.