Tudor Investment Corp ET AL Purchases 76,828 Shares of Penguin Solutions, Inc. $PENG

Key Points

• Tudor Investment Corp ET AL raised its stake in Penguin Solutions by 32.3%, buying 76,828 shares to own 314,721 shares (about 0.60%) worth roughly $8.27 million at quarter-end.
• Penguin beat recent quarterly expectations, reporting $0.52 EPS vs. $0.43 consensus and $343M revenue vs. $339M, with a 19.9% ROE and a 4.1% net margin.
• Analyst sentiment is mostly positive (six Buys, average target $27.29 vs. current price near $20.27), though company insiders have recently trimmed small positions and now own 2.9% of the stock.

Tudor Investment Corp ET AL grew its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 32.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 314,721 shares of the company's stock after acquiring an additional 76,828 shares during the quarter. Tudor Investment Corp ET AL owned about 0.60% of Penguin Solutions worth $8,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Penguin Solutions during the 3rd quarter valued at approximately $42,000. Jones Financial Companies Lllp boosted its position in shares of Penguin Solutions by 4,131.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company's stock valued at $45,000 after acquiring an additional 1,694 shares during the last quarter. Allworth Financial LP boosted its position in shares of Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company's stock valued at $47,000 after acquiring an additional 525 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Penguin Solutions during the 2nd quarter valued at approximately $37,000. Finally, Federated Hermes Inc. boosted its position in shares of Penguin Solutions by 803.9% during the 3rd quarter. Federated Hermes Inc. now owns 1,862 shares of the company's stock valued at $49,000 after acquiring an additional 1,656 shares during the last quarter.

Penguin Solutions Stock Performance

PENG stock opened at $20.27 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The business's fifty day simple moving average is $18.79 and its two-hundred day simple moving average is $20.61. Penguin Solutions, Inc. has a twelve month low of $14.20 and a twelve month high of $29.80. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 28.15 and a beta of 2.23.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The business had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Insiders Place Their Bets

In other Penguin Solutions news, SVP Joseph Gates Clark sold 1,346 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $19.03, for a total value of $25,614.38. Following the sale, the senior vice president owned 122,318 shares in the company, valued at $2,327,711.54. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.75, for a total value of $71,000.00. Following the completion of the sale, the senior vice president owned 131,352 shares in the company, valued at approximately $2,331,498. The trade was a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

PENG has been the topic of several recent research reports. Wall Street Zen upgraded Penguin Solutions from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. The Goldman Sachs Group initiated coverage on Penguin Solutions in a report on Tuesday, January 13th. They set a "buy" rating and a $25.00 price target on the stock. Needham & Company LLC increased their price target on Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Rosenblatt Securities restated a "buy" rating and set a $30.00 price target on shares of Penguin Solutions in a report on Monday, March 30th. Finally, Weiss Ratings lowered Penguin Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, March 11th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $27.29.

About Penguin Solutions

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.

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