Aperio Group LLC lessened its stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) by 13.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,704 shares of the company’s stock after selling 2,371 shares during the period. Aperio Group LLC’s holdings in Penn National Gaming were worth $283,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PENN. Bessemer Group Inc. bought a new position in Penn National Gaming during the second quarter worth about $29,000. Manchester Capital Management LLC acquired a new stake in shares of Penn National Gaming during the first quarter worth approximately $63,000. Dupont Capital Management Corp increased its holdings in shares of Penn National Gaming by 16.8% during the first quarter. Dupont Capital Management Corp now owns 12,507 shares of the company’s stock worth $251,000 after buying an additional 1,800 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Penn National Gaming by 1,131.8% in the first quarter. BNP Paribas Arbitrage SA now owns 23,158 shares of the company’s stock valued at $465,000 after purchasing an additional 21,278 shares in the last quarter. Finally, GYL Financial Synergies LLC bought a new position in Penn National Gaming in the first quarter valued at approximately $529,000. 99.44% of the stock is currently owned by institutional investors.
In other news, Director Saul Reibstein bought 3,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $17.30 per share, for a total transaction of $51,900.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Handler bought 30,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $17.68 per share, with a total value of $530,400.00. Following the completion of the transaction, the director now directly owns 169,870 shares in the company, valued at approximately $3,003,301.60. The disclosure for this purchase can be found here. 8.53% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on the stock. Union Gaming Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley set a $27.00 price objective on shares of Penn National Gaming and gave the company a “buy” rating in a research report on Friday, August 2nd. BidaskClub upgraded shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday. Wolfe Research initiated coverage on shares of Penn National Gaming in a research note on Friday, June 14th. They issued a “peer perform” rating on the stock. Finally, Deutsche Bank restated a “buy” rating and set a $27.00 price objective on shares of Penn National Gaming in a research note on Sunday, August 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.02.
NASDAQ PENN traded up $0.28 on Friday, hitting $20.85. The company’s stock had a trading volume of 42,155 shares, compared to its average volume of 1,399,023. Penn National Gaming, Inc has a 1-year low of $16.72 and a 1-year high of $34.72. The firm has a market cap of $2.34 billion, a PE ratio of 22.52, a PEG ratio of 1.31 and a beta of 1.72. The company’s 50-day moving average is $18.76 and its 200 day moving average is $20.15. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 5.89.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Penn National Gaming had a net margin of 1.90% and a return on equity of 7.61%. The firm’s revenue was up 60.0% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. On average, equities analysts expect that Penn National Gaming, Inc will post 1.55 EPS for the current year.
Penn National Gaming Profile
Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.
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