Harbor Capital Advisors Inc. Has $11.13 Million Holdings in PENN Entertainment, Inc. $PENN

Key Points

• Harbor Capital Advisors Inc. increased its stake in PENN Entertainment, Inc. by 29.7% during Q2, now holding 622,805 shares valued at approximately $11.13 million.
• PENN Entertainment reported a quarterly earnings per share of $0.10, exceeding the consensus estimate of ($0.04), with a revenue of $1.77 billion in the same period.
• Despite recent growth, PENN Entertainment's stock is currently down 4.0%, with a market cap of $2.75 billion and diverse institutional ownership at around 91.69%.

Harbor Capital Advisors Inc. raised its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 29.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622,805 shares of the company's stock after purchasing an additional 142,562 shares during the period. Harbor Capital Advisors Inc. owned 0.41% of PENN Entertainment worth $11,130,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PENN. Trek Financial LLC purchased a new stake in shares of PENN Entertainment during the first quarter valued at approximately $246,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in PENN Entertainment during the 1st quarter valued at $289,000. Principal Financial Group Inc. raised its stake in PENN Entertainment by 2.4% in the first quarter. Principal Financial Group Inc. now owns 742,899 shares of the company's stock valued at $12,117,000 after buying an additional 17,752 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PENN Entertainment by 33.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company's stock worth $5,244,000 after purchasing an additional 65,596 shares in the last quarter. Finally, KBC Group NV lifted its position in PENN Entertainment by 42.2% during the first quarter. KBC Group NV now owns 7,824 shares of the company's stock worth $128,000 after buying an additional 2,323 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Performance

PENN stock traded down $0.12 during trading on Friday, reaching $19.09. The company had a trading volume of 4,629,445 shares, compared to its average volume of 2,934,778. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The firm has a 50-day simple moving average of $18.72 and a 200-day simple moving average of $17.11. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -34.09 and a beta of 1.41.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.14. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. PENN Entertainment's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JMP Securities increased their target price on PENN Entertainment from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Friday, August 8th. Wall Street Zen cut PENN Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Susquehanna restated a "positive" rating and set a $25.00 price target (up from $24.00) on shares of PENN Entertainment in a research note on Tuesday, June 10th. Stifel Nicolaus boosted their price target on shares of PENN Entertainment from $17.00 to $19.00 and gave the company a "hold" rating in a report on Friday, July 11th. Finally, Barclays reduced their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.25.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the acquisition, the director directly owned 342,941 shares of the company's stock, valued at $5,816,279.36. The trade was a 6.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.67% of the company's stock.

PENN Entertainment 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.