Los Angeles Capital Management & Equity Research Inc. cut its position in Penn National Gaming, Inc. (NASDAQ:PENN) by 54.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,751 shares of the company’s stock after selling 124,944 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.11% of Penn National Gaming worth $2,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Penn National Gaming by 138,953.6% in the 1st quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock valued at $163,992,000 after purchasing an additional 8,891,641 shares during the period. Quantitative Investment Management LLC acquired a new stake in shares of Penn National Gaming in the 1st quarter valued at about $1,537,000. BlueMar Capital Management LLC acquired a new stake in shares of Penn National Gaming in the 1st quarter valued at about $808,000. Stifel Financial Corp boosted its position in shares of Penn National Gaming by 17.6% in the 1st quarter. Stifel Financial Corp now owns 146,352 shares of the company’s stock valued at $2,729,000 after purchasing an additional 21,947 shares during the period. Finally, Peregrine Capital Management LLC boosted its position in shares of Penn National Gaming by 2.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 793,030 shares of the company’s stock valued at $16,971,000 after purchasing an additional 15,863 shares during the period. 95.31% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Penn National Gaming, Inc. (PENN) Shares Sold by Los Angeles Capital Management & Equity Research Inc.” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2017/09/16/penn-national-gaming-inc-penn-shares-sold-by-los-angeles-capital-management-equity-research-inc.html.

Shares of Penn National Gaming, Inc. (NASDAQ PENN) opened at 22.52 on Friday. The firm has a market capitalization of $2.05 billion, a PE ratio of 28.29 and a beta of 0.99. Penn National Gaming, Inc. has a 52-week low of $11.93 and a 52-week high of $23.03. The firm’s 50-day moving average price is $21.31 and its 200-day moving average price is $19.59.

Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.07). The company had revenue of $796.50 million for the quarter, compared to the consensus estimate of $788.65 million. Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. On average, equities analysts predict that Penn National Gaming, Inc. will post $0.61 earnings per share for the current fiscal year.

PENN has been the subject of a number of research analyst reports. Telsey Advisory Group upped their target price on Penn National Gaming from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Instinet reissued a “neutral” rating and issued a $21.00 target price (up from $19.00) on shares of Penn National Gaming in a research report on Monday, June 19th. Stifel Nicolaus reissued a “buy” rating and issued a $23.00 target price on shares of Penn National Gaming in a research report on Friday, July 14th. BidaskClub raised Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Wednesday, July 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Penn National Gaming has a consensus rating of “Buy” and a consensus target price of $21.00.

In other news, insider Jay A. Snowden sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $20.86, for a total transaction of $1,043,000.00. Following the completion of the transaction, the insider now directly owns 86,281 shares of the company’s stock, valued at $1,799,821.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carl Sottosanti sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 45,831 shares of the company’s stock, valued at $1,008,282. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding PENN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penn National Gaming, Inc. (NASDAQ:PENN).

Institutional Ownership by Quarter for Penn National Gaming (NASDAQ:PENN)

Receive News & Stock Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related stocks with our FREE daily email newsletter.