TIAA CREF Investment Management LLC boosted its holdings in Penn National Gaming, Inc. (NASDAQ:PENN) by 114.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 579,076 shares of the company’s stock after buying an additional 309,252 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.64% of Penn National Gaming worth $12,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in shares of 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 buying an additional 4,677 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Penn National Gaming in the first quarter valued at approximately $128,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Penn National Gaming in the first quarter valued at approximately $134,000. Van ECK Associates Corp boosted its position in shares of Penn National Gaming by 11.8% in the first quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock valued at $194,000 after acquiring an additional 1,114 shares during the period. Finally, Amalgamated Bank bought a new stake in shares of Penn National Gaming in the first quarter valued at approximately $195,000. 95.31% of the stock is currently owned by institutional investors.

In other news, insider Jay A. Snowden sold 50,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $20.86, for a total value of $1,043,000.00. Following the completion of the sale, the insider now owns 86,281 shares of the company’s stock, valued at $1,799,821.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Wilmott sold 5,400 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $23.02, for a total transaction of $124,308.00. Following the completion of the sale, the chief executive officer now directly owns 460,600 shares of the company’s stock, valued at approximately $10,603,012. The disclosure for this sale can be found here. Insiders have sold a total of 198,319 shares of company stock worth $4,455,938 in the last quarter. Company insiders own 10.17% of the company’s stock.

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Several brokerages have recently issued reports on PENN. BidaskClub downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Instinet reiterated a “neutral” rating and set a $21.00 target price (up from $19.00) on shares of Penn National Gaming in a research note on Monday, June 19th. ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Telsey Advisory Group increased their price target on shares of Penn National Gaming from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Penn National Gaming currently has an average rating of “Buy” and an average price target of $21.00.

Penn National Gaming, Inc. (NASDAQ:PENN) opened at 23.31 on Wednesday. Penn National Gaming, Inc. has a 52 week low of $11.93 and a 52 week high of $23.55. The firm has a market cap of $2.12 billion, a PE ratio of 29.28 and a beta of 0.97. The stock has a 50 day moving average of $22.12 and a 200-day moving average of $20.36.

Penn National Gaming (NASDAQ:PENN) last released 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 net margin of 2.39% and a negative return on equity of 16.72%. The firm had revenue of $796.50 million during the quarter, compared to the consensus estimate of $788.65 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts expect that Penn National Gaming, Inc. will post $0.61 earnings per share for the current year.

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

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