Carl Sottosanti Sells 20,000 Shares of Penn National Gaming, Inc. (PENN) Stock
Penn National Gaming, Inc. (NASDAQ:PENN) EVP Carl Sottosanti sold 20,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $22.00, for a total value of $440,000.00. Following the completion of the sale, the executive vice president now owns 45,831 shares of the company’s stock, valued at approximately $1,008,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Penn National Gaming, Inc. (NASDAQ PENN) opened at 22.50 on Thursday. The stock’s 50 day moving average price is $20.98 and its 200-day moving average price is $19.24. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 28.27 and a beta of 0.99. Penn National Gaming, Inc. has a 12 month low of $11.93 and a 12 month high of $22.92.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.07. Penn National Gaming had a negative return on equity of 16.72% and a net margin of 2.39%. The company had revenue of $796.50 million during the quarter, compared to the consensus estimate of $788.65 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Penn National Gaming, Inc. will post $0.61 EPS for the current fiscal year.
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PENN has been the subject of several research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $23.00 price objective on shares of Penn National Gaming in a report on Friday, July 14th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating and issued a $25.00 price objective (up previously from $22.00) on shares of Penn National Gaming in a report on Thursday, June 22nd. BidaskClub lowered Penn National Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, ValuEngine lowered Penn National Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $21.00.
Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in Penn National Gaming by 1,461.6% during the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after acquiring an additional 4,677 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Penn National Gaming during the first quarter worth about $128,000. Oppenheimer Asset Management Inc. bought a new position in Penn National Gaming during the first quarter worth about $134,000. State of Alaska Department of Revenue bought a new position in Penn National Gaming during the first quarter worth about $168,000. Finally, Oppenheimer & Co. Inc. bought a new position in Penn National Gaming during the second quarter worth about $206,000. Institutional investors and hedge funds own 95.31% of the company’s stock.
Penn National Gaming Company Profile
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 operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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