Penn National Gaming Inc. (PENN) Position Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in shares of Penn National Gaming Inc. (NASDAQ:PENN) by 104.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,604,200 shares of the company’s stock after buying an additional 1,839,785 shares during the period. Victory Capital Management Inc. owned approximately 4.33% of Penn National Gaming worth $48,909,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in PENN. Peregrine Capital Management LLC purchased a new position in Penn National Gaming during the third quarter valued at about $9,344,000. Emerald Mutual Fund Advisers Trust raised its position in Penn National Gaming by 4.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 847,856 shares of the company’s stock valued at $11,505,000 after buying an additional 36,050 shares during the last quarter. Emerald Advisers Inc. PA raised its position in Penn National Gaming by 10.0% in the third quarter. Emerald Advisers Inc. PA now owns 1,610,063 shares of the company’s stock valued at $21,849,000 after buying an additional 146,320 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Penn National Gaming during the third quarter valued at about $15,981,000. Finally, Eagle Asset Management Inc. raised its position in Penn National Gaming by 1,669.1% in the third quarter. Eagle Asset Management Inc. now owns 2,450,296 shares of the company’s stock valued at $33,250,000 after buying an additional 2,311,791 shares during the last quarter.
Penn National Gaming Inc. (NASDAQ:PENN) traded up 0.1457% during mid-day trading on Wednesday, reaching $13.6098. The company’s stock had a trading volume of 16,929 shares. Penn National Gaming Inc. has a 52 week low of $11.93 and a 52 week high of $17.40. The firm has a 50-day moving average of $13.34 and a 200-day moving average of $14.05. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.0237 and a beta of 0.89.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.23. The company had revenue of $765.60 million for the quarter, compared to analysts’ expectations of $757.06 million. Penn National Gaming had a negative return on equity of 15.31% and a net margin of 3.15%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Penn National Gaming Inc. will post $1.01 earnings per share for the current year.
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Several equities research analysts have weighed in on PENN shares. Zacks Investment Research downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a report on Friday, October 7th. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. Finally, Telsey Advisory Group cut their price target on Penn National Gaming from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Penn National Gaming currently has a consensus rating of “Buy” and a consensus price target of $18.77.
In other Penn National Gaming news, EVP Carl Sottosanti sold 37,598 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $13.86, for a total transaction of $521,108.28. Following the transaction, the executive vice president now owns 35,696 shares in the company, valued at $494,746.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 11.10% of the company’s stock.
About Penn National Gaming
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The Company’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.
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