Peregrine Capital Management LLC Sells 1,145 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Peregrine Capital Management LLC cut its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 0.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 328,913 shares of the company’s stock after selling 1,145 shares during the period. Peregrine Capital Management LLC’s holdings in PENN Entertainment were worth $6,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after buying an additional 1,009 shares during the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new position in PENN Entertainment in the 2nd quarter valued at approximately $83,000. TFO Wealth Partners LLC lifted its stake in PENN Entertainment by 123,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock valued at $96,000 after purchasing an additional 3,691 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of PENN Entertainment by 18.3% during the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock valued at $183,000 after acquiring an additional 1,555 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Performance

PENN stock traded up $0.07 during trading on Friday, reaching $18.62. 2,673,479 shares of the company’s stock were exchanged, compared to its average volume of 5,695,456. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The company’s fifty day moving average price is $19.06 and its 200-day moving average price is $17.93. The firm has a market cap of $2.84 billion, a PE ratio of -2.50 and a beta of 2.11.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. PENN Entertainment’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, research analysts expect that PENN Entertainment, Inc. will post -1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of research reports. Morgan Stanley raised their price objective on PENN Entertainment from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft upped their price target on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Craig Hallum upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the company from $20.00 to $30.00 in a research note on Friday, June 21st. Finally, Macquarie reissued an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.83.

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.