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

Peregrine Capital Management LLC lessened its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 8.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 300,859 shares of the company’s stock after selling 29,037 shares during the quarter. Peregrine Capital Management LLC owned about 0.23% of PENN Entertainment worth $4,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP bought a new position in PENN Entertainment in the 4th quarter valued at about $36,000. IFP Advisors Inc boosted its holdings in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares during the period. Modus Advisors LLC acquired a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $47,000. Triumph Capital Management acquired a new position in shares of PENN Entertainment in the third quarter valued at approximately $54,000. Finally, Hantz Financial Services Inc. increased its stake in shares of PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after purchasing an additional 2,954 shares during the period. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PENN shares. Mizuho boosted their price target on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Stifel Nicolaus increased their price objective on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Wells Fargo & Company lifted their target price on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PENN Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

PENN Entertainment Trading Up 0.6%

Shares of NASDAQ:PENN opened at $21.49 on Thursday. The business’s 50 day simple moving average is $18.72 and its 200 day simple moving average is $15.81. PENN Entertainment, Inc. has a 1 year low of $11.65 and a 1 year high of $22.36. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The company 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 announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. On average, research analysts anticipate that PENN Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

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.