Peregrine Capital Management LLC Sells 29,037 Shares of PENN Entertainment, Inc. $PENN

Peregrine Capital Management LLC decreased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 300,859 shares of the company’s stock after selling 29,037 shares during the period. Peregrine Capital Management LLC’s holdings in PENN Entertainment were worth $4,522,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in PENN Entertainment during the fourth quarter worth $36,000. IFP Advisors Inc boosted its holdings in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after purchasing an additional 1,196 shares in the last quarter. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the 4th quarter valued at $47,000. Triumph Capital Management acquired a new position in shares of PENN Entertainment during the 3rd quarter worth $54,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of PENN Entertainment by 385.1% during the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after buying an additional 2,954 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Trading Up 0.6%

Shares of PENN stock opened at $21.49 on Thursday. PENN Entertainment, Inc. has a twelve month low of $11.65 and a twelve month high of $22.36. The stock’s fifty day simple moving average is $18.72 and its 200 day simple moving average is $15.81. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. The firm has a market capitalization of $2.88 billion, a P/E ratio of -3.20, a P/E/G ratio of 0.68 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PENN has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. Truist Financial increased their target price on shares of PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Wells Fargo & Company raised their price target on shares of PENN Entertainment from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

PENN Entertainment Company 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.