Harbor Capital Advisors Inc. Has $11.13 Million Position 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. boosted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 29.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 622,805 shares of the company's stock after acquiring 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 reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PENN. Trek Financial LLC bought a new stake in shares of PENN Entertainment in the 1st quarter valued at about $246,000. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in PENN Entertainment during the 1st quarter worth approximately $289,000. Principal Financial Group Inc. raised its stake in shares of PENN Entertainment by 2.4% in the first quarter. Principal Financial Group Inc. now owns 742,899 shares of the company's stock worth $12,117,000 after purchasing an additional 17,752 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PENN Entertainment by 33.0% in 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 during the last quarter. Finally, KBC Group NV raised its stake in shares of PENN Entertainment by 42.2% in the first quarter. KBC Group NV now owns 7,824 shares of the company's stock worth $128,000 after purchasing an additional 2,323 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Down 4.0%

Shares of NASDAQ:PENN opened at $18.83 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $2.75 billion, a PE ratio of -33.62 and a beta of 1.41. The stock's 50-day moving average is $18.68 and its 200 day moving average is $17.10. PENN Entertainment, Inc. has a 1 year low of $13.25 and a 1 year high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.14. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) EPS. Sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 20,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $16.96 per share, for a total transaction of $339,200.00. Following the purchase, the director owned 342,941 shares of the company's stock, valued at approximately $5,816,279.36. This represents a 6.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. began coverage on PENN Entertainment in a research report on Monday, June 23rd. They set an "overweight" rating and a $24.00 price target for the company. Morgan Stanley reissued a "sell" rating on shares of PENN Entertainment in a report on Friday, July 11th. Stifel Nicolaus raised their price target on PENN Entertainment from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, July 11th. Wall Street Zen lowered PENN Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Citizens Jmp raised PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a research note on Thursday, June 26th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.25.

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.

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