Harbor Capital Advisors Inc. Sells 465,592 Shares of PENN Entertainment, Inc. $PENN

Harbor Capital Advisors Inc. trimmed its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 74.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,213 shares of the company’s stock after selling 465,592 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.11% of PENN Entertainment worth $3,028,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. HighTower Advisors LLC increased its holdings in shares of PENN Entertainment by 5.2% during the 1st quarter. HighTower Advisors LLC now owns 19,327 shares of the company’s stock valued at $315,000 after acquiring an additional 953 shares during the last quarter. Russell Investments Group Ltd. boosted its position in PENN Entertainment by 37.9% during the first quarter. Russell Investments Group Ltd. now owns 60,269 shares of the company’s stock worth $985,000 after purchasing an additional 16,553 shares during the period. CW Advisors LLC acquired a new position in PENN Entertainment during the first quarter valued at approximately $323,000. Eisler Capital Management Ltd. raised its position in shares of PENN Entertainment by 25.4% in the first quarter. Eisler Capital Management Ltd. now owns 125,404 shares of the company’s stock valued at $2,047,000 after purchasing an additional 25,404 shares during the period. Finally, HAP Trading LLC lifted its stake in shares of PENN Entertainment by 230.4% in the first quarter. HAP Trading LLC now owns 80,279 shares of the company’s stock worth $1,309,000 after buying an additional 55,979 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Down 0.2%

NASDAQ PENN opened at $14.63 on Thursday. PENN Entertainment, Inc. has a twelve month low of $13.24 and a twelve month high of $23.08. The stock has a market cap of $1.95 billion, a PE ratio of -2.30 and a beta of 1.40. The firm has a 50-day simple moving average of $15.18 and a 200 day simple moving average of $17.24. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.75 and a current ratio of 0.75.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, research analysts forecast that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Insider Transactions at PENN Entertainment

In other news, CFO Felicia Hendrix bought 7,315 shares of PENN Entertainment stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average cost of $13.79 per share, with a total value of $100,873.85. Following the completion of the transaction, the chief financial officer directly owned 119,448 shares in the company, valued at $1,647,187.92. This trade represents a 6.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Handler purchased 20,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were acquired at an average price of $14.25 per share, for a total transaction of $285,000.00. Following the purchase, the director directly owned 362,941 shares of the company’s stock, valued at approximately $5,171,909.25. This represents a 5.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 62,015 shares of company stock valued at $882,778. Company insiders own 2.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and raised their target price for the company from $19.00 to $21.00 in a research note on Friday, November 7th. Citizens Jmp lowered their price target on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $17.00 target price on shares of PENN Entertainment in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.25.

PENN Entertainment Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.