Pacer Advisors Inc. Lowers Stock Position in Penguin Solutions, Inc. $PENG

Pacer Advisors Inc. cut its stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,316 shares of the company’s stock after selling 68,945 shares during the quarter. Pacer Advisors Inc.’s holdings in Penguin Solutions were worth $3,820,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PENG. Farther Finance Advisors LLC raised its holdings in shares of Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after acquiring an additional 946 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Penguin Solutions in the fourth quarter valued at $29,000. Allworth Financial LP increased its position in Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after purchasing an additional 525 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Penguin Solutions in the second quarter worth $37,000. Finally, Advisory Services Network LLC purchased a new stake in Penguin Solutions during the third quarter valued at $50,000.

Penguin Solutions Stock Up 1.2%

Shares of PENG opened at $67.94 on Tuesday. The company has a market cap of $3.45 billion, a PE ratio of 94.36 and a beta of 2.88. The business has a fifty day moving average of $46.95 and a 200 day moving average of $29.19. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $77.40. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The company had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. On average, sell-side analysts expect that Penguin Solutions, Inc. will post 1.79 EPS for the current year.

Insider Activity

In related news, Director Maximiliane C. Straub sold 3,000 shares of Penguin Solutions stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 51,975 shares of the company’s stock, valued at approximately $2,546,775. The trade was a 5.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Gates Clark sold 10,351 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $58.87, for a total transaction of $609,363.37. Following the transaction, the senior vice president owned 66,425 shares in the company, valued at $3,910,439.75. The trade was a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,120 shares of company stock worth $3,486,734 over the last 90 days. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

PENG has been the subject of several research reports. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Weiss Ratings cut shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Zacks Research lowered Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Rosenblatt Securities boosted their price objective on Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.88.

Penguin Solutions Profile

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.