PENN Entertainment, Inc. (NASDAQ:PENN) Stock Holdings Cut by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 277,745 shares of the company's stock after selling 15,179 shares during the quarter. Peregrine Capital Management LLC owned about 0.18% of PENN Entertainment worth $4,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV increased its holdings in shares of PENN Entertainment by 42.2% during the first quarter. KBC Group NV now owns 7,824 shares of the company's stock worth $128,000 after purchasing an additional 2,323 shares during the period. Illinois Municipal Retirement Fund lifted its stake in PENN Entertainment by 10.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 98,134 shares of the company's stock valued at $1,601,000 after purchasing an additional 9,486 shares during the last quarter. New World Advisors LLC lifted its stake in shares of PENN Entertainment by 18.8% in the 1st quarter. New World Advisors LLC now owns 20,900 shares of the company's stock valued at $341,000 after acquiring an additional 3,300 shares during the last quarter. Blue Trust Inc. increased its holdings in PENN Entertainment by 56.0% in the 1st quarter. Blue Trust Inc. now owns 8,839 shares of the company's stock worth $144,000 after purchasing an additional 3,174 shares in the last quarter. Finally, Byrne Asset Management LLC boosted its stake in shares of PENN Entertainment by 201.1% during the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock valued at $44,000 after purchasing an additional 1,810 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden bought 34,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $14.70 per share, with a total value of $499,800.00. Following the transaction, the chief executive officer directly owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Handler acquired 10,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $14.83 per share, for a total transaction of $148,300.00. Following the purchase, the director directly owned 322,941 shares of the company's stock, valued at $4,789,215.03. This represents a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.67% of the company's stock.

Analysts Set New Price Targets

PENN has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Truist Financial decreased their price target on PENN Entertainment from $23.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Citizens Jmp raised shares of PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 target price on the stock in a research note on Thursday, June 26th. Susquehanna restated a "positive" rating and set a $25.00 price objective (up previously from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. Finally, Citigroup raised shares of PENN Entertainment to an "outperform" rating in a research report on Thursday, June 26th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, PENN Entertainment has a consensus rating of "Moderate Buy" and an average price target of $23.15.

PENN Entertainment Stock Down 0.0%

NASDAQ:PENN traded down $0.01 during midday trading on Thursday, reaching $18.61. The company had a trading volume of 951,471 shares, compared to its average volume of 3,843,512. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.35. The stock's fifty day simple moving average is $16.09 and its 200-day simple moving average is $17.69. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -30.03 and a beta of 1.61. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative net margin of 1.28% and a negative return on equity of 5.75%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned ($0.76) EPS. The business's revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal 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.