Harbor Advisors LLC Has $238,000 Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Harbor Advisors LLC trimmed its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,000 shares of the company’s stock after selling 2,000 shares during the period. Harbor Advisors LLC’s holdings in PENN Entertainment were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PENN. Contrarius Group Holdings Ltd acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $34,994,000. SG Americas Securities LLC acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $27,805,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $17,804,000. ING Groep NV acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $9,910,000. Finally, Jennison Associates LLC lifted its holdings in PENN Entertainment by 103.9% during the 3rd quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock worth $14,494,000 after purchasing an additional 391,640 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Trading Up 1.2 %

Shares of PENN opened at $17.37 on Friday. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $23.08. The business’s fifty day moving average is $19.98 and its 200-day moving average is $19.64. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -4.89, a PEG ratio of 1.55 and a beta of 2.19.

Wall Street Analysts Forecast Growth

PENN has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Stifel Nicolaus dropped their price target on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Macquarie reissued an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Needham & Company LLC lowered their price objective on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.56.

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.