Penn National Gaming, Inc. (PENN) Position Increased by Rhumbline Advisers
Rhumbline Advisers increased its holdings in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,387 shares of the company’s stock after acquiring an additional 16,419 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Penn National Gaming worth $3,625,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Nine Chapters Capital Management LLC lifted its holdings in Penn National Gaming by 4.1% during the first quarter. Nine Chapters Capital Management LLC now owns 17,700 shares of the company’s stock worth $326,000 after acquiring an additional 700 shares during the period. Van ECK Associates Corp lifted its holdings in Penn National Gaming by 11.8% during the first quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock worth $194,000 after acquiring an additional 1,114 shares during the period. American International Group Inc. lifted its holdings in Penn National Gaming by 7.1% during the first quarter. American International Group Inc. now owns 45,896 shares of the company’s stock worth $846,000 after acquiring an additional 3,027 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in Penn National Gaming by 6.5% during the first quarter. Metropolitan Life Insurance Co. NY now owns 52,309 shares of the company’s stock worth $964,000 after acquiring an additional 3,176 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in Penn National Gaming by 3.6% during the fourth quarter. Teachers Advisors LLC now owns 124,065 shares of the company’s stock worth $1,711,000 after acquiring an additional 4,337 shares during the period. Institutional investors and hedge funds own 95.31% of the company’s stock.
A number of brokerages recently commented on PENN. BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price target (up from $22.00) on shares of Penn National Gaming in a report on Thursday, June 22nd. Instinet reiterated a “neutral” rating and set a $21.00 price target (up from $19.00) on shares of Penn National Gaming in a report on Monday, June 19th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $23.00 price target on shares of Penn National Gaming in a report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $21.00.
Shares of Penn National Gaming, Inc. (NASDAQ PENN) opened at 22.50 on Thursday. Penn National Gaming, Inc. has a 52 week low of $11.93 and a 52 week high of $22.92. The firm has a 50 day moving average price of $20.98 and a 200 day moving average price of $19.24. The company 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 (NASDAQ:PENN) last announced its earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, missing the Zacks’ 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 period in the prior year, the business posted $0.37 earnings per share. Penn National Gaming’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts forecast that Penn National Gaming, Inc. will post $0.61 EPS for the current year.
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In related news, insider Jay A. Snowden sold 50,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.86, for a total value of $1,043,000.00. Following the transaction, the insider now directly owns 86,281 shares of the company’s stock, valued at approximately $1,799,821.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Carl Sottosanti sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $22.00, for a total value of $440,000.00. Following the completion of the transaction, the executive vice president now directly owns 45,831 shares in the company, valued at $1,008,282. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.
Penn National Gaming 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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