PENN Entertainment, Inc. (NASDAQ:PENN) Stock Position Lowered by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,913 shares of the company’s stock after selling 1,145 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.22% of PENN Entertainment worth $6,366,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PENN. GAMMA Investing LLC grew its position in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in PENN Entertainment during the 4th quarter worth $40,000. TFO Wealth Partners LLC raised its stake in PENN Entertainment by 123,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after buying an additional 3,691 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of PENN Entertainment in the 2nd quarter valued at about $83,000. Finally, CWM LLC raised its stake in shares of PENN Entertainment by 87.2% in the 4th quarter. CWM LLC now owns 7,551 shares of the company’s stock valued at $196,000 after purchasing an additional 3,517 shares during the period. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PENN shares. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Thursday, August 8th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Barclays boosted their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Morgan Stanley upped their price target on shares of PENN Entertainment from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. One research 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’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and an average price target of $23.83.

PENN Entertainment Trading Up 0.4 %

PENN traded up $0.07 during trading on Friday, reaching $18.62. The company had a trading volume of 2,673,479 shares, compared to its average volume of 5,695,456. The firm’s 50-day simple moving average is $19.06 and its 200 day simple moving average is $17.93. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -2.50 and a beta of 2.11. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. Equities research analysts anticipate that PENN Entertainment, Inc. will post -1.32 earnings per share for the current year.

PENN Entertainment 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.