Peregrine Capital Management LLC Sells 63,388 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Peregrine Capital Management LLC lowered its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,082 shares of the company's stock after selling 63,388 shares during the period. Peregrine Capital Management LLC owned about 0.23% of PENN Entertainment worth $9,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PENN. Cetera Advisor Networks LLC grew its position in PENN Entertainment by 21.5% in the first quarter. Cetera Advisor Networks LLC now owns 7,719 shares of the company's stock valued at $327,000 after purchasing an additional 1,365 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of PENN Entertainment by 92.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,883 shares of the company's stock valued at $674,000 after acquiring an additional 7,612 shares during the period. Natixis Advisors L.P. bought a new position in shares of PENN Entertainment in the 1st quarter valued at about $556,000. MetLife Investment Management LLC grew its position in shares of PENN Entertainment by 24.3% in the 1st quarter. MetLife Investment Management LLC now owns 45,633 shares of the company's stock valued at $1,936,000 after acquiring an additional 8,931 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of PENN Entertainment by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,228 shares of the company's stock valued at $943,000 after acquiring an additional 1,377 shares during the period. Institutional investors own 91.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PENN shares. Needham & Company LLC decreased their price objective on shares of PENN Entertainment from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Friday, February 16th. StockNews.com downgraded shares of PENN Entertainment from a "hold" rating to a "sell" rating in a research report on Wednesday, March 6th. Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a research report on Friday, February 16th. Morgan Stanley lifted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Macquarie cut their target price on shares of PENN Entertainment from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $31.38.

PENN Entertainment Stock Performance

PENN Entertainment stock traded down $1.12 during midday trading on Wednesday, hitting $16.93. The company's stock had a trading volume of 5,700,511 shares, compared to its average volume of 5,542,490. PENN Entertainment, Inc. has a 1-year low of $16.46 and a 1-year high of $31.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day moving average price of $18.76 and a two-hundred day moving average price of $21.75. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -4.65 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post -0.82 earnings per share for the current year.

About PENN Entertainment

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.