PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lowered its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 480,243 shares of the company's stock after selling 117,699 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.31% of PENN Entertainment worth $7,833,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after buying an additional 1,052 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of PENN Entertainment during the 4th quarter worth $92,000. CIBC Private Wealth Group LLC boosted its position in PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock valued at $119,000 after purchasing an additional 5,852 shares in the last quarter. Sterling Capital Management LLC boosted its position in PENN Entertainment by 51.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock valued at $179,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in PENN Entertainment in the fourth quarter valued at about $198,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Macquarie reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, February 28th. Stifel Nicolaus decreased their price objective on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Morgan Stanley lowered their price objective on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Mizuho dropped their target price on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Monday, May 12th. Finally, Canaccord Genuity Group decreased their price target on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $23.23.

Insider Activity at PENN Entertainment

In other news, Director David A. Handler acquired 10,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $14.83 per share, with a total value of $148,300.00. Following the completion of the acquisition, the director now owns 322,941 shares of the company's stock, valued at approximately $4,789,215.03. This represents a 3.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jay A. Snowden bought 34,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,082,625 shares in the company, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.67% of the company's stock.

PENN Entertainment Stock Performance

NASDAQ PENN traded up $0.01 on Wednesday, hitting $16.82. 3,758,384 shares of the company's stock traded hands, compared to its average volume of 4,064,026. The firm has a market capitalization of $2.54 billion, a PE ratio of -4.74, a P/E/G ratio of 1.55 and a beta of 1.57. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The firm's 50-day moving average price is $15.22 and its two-hundred day moving average price is $18.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned ($0.76) earnings per share. PENN Entertainment's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

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.