RK Capital Management LLC Cuts Stake in Penn National Gaming, Inc. (PENN)

RK Capital Management LLC lessened its holdings in Penn National Gaming, Inc. (NASDAQ:PENN) by 27.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 433,198 shares of the company’s stock after selling 162,700 shares during the period. Penn National Gaming comprises approximately 2.4% of RK Capital Management LLC’s holdings, making the stock its 22nd biggest holding. RK Capital Management LLC owned about 0.48% of Penn National Gaming worth $10,133,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Penn National Gaming by 16.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 704,540 shares of the company’s stock valued at $16,480,000 after acquiring an additional 101,867 shares during the period. Wells Fargo & Company MN grew its holdings in Penn National Gaming by 155.9% during the 3rd quarter. Wells Fargo & Company MN now owns 839,146 shares of the company’s stock valued at $19,627,000 after purchasing an additional 511,183 shares in the last quarter. Schroder Investment Management Group grew its holdings in Penn National Gaming by 236.1% during the 3rd quarter. Schroder Investment Management Group now owns 100,273 shares of the company’s stock valued at $2,327,000 after purchasing an additional 70,443 shares in the last quarter. SG Capital Management LLC acquired a new stake in Penn National Gaming during the 3rd quarter valued at $8,728,000. Finally, Legal & General Group Plc grew its holdings in Penn National Gaming by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 166,975 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,528 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Penn National Gaming, Inc. (NASDAQ PENN) traded up $0.32 during mid-day trading on Friday, reaching $28.76. 1,534,900 shares of the company’s stock traded hands, compared to its average volume of 1,253,198. The firm has a market cap of $2,539.75, a price-to-earnings ratio of 37.68, a P/E/G ratio of 7.08 and a beta of 0.97. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. Penn National Gaming, Inc. has a 52 week low of $12.77 and a 52 week high of $29.25.

In other news, CEO Timothy J. Wilmott sold 94,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $23.16, for a total value of $2,181,672.00. Following the transaction, the chief executive officer now directly owns 479,119 shares in the company, valued at approximately $11,096,396.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Wilmott sold 4,900 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $23.02, for a total transaction of $112,798.00. Following the completion of the transaction, the chief executive officer now owns 460,600 shares in the company, valued at $10,603,012. The disclosure for this sale can be found here. Over the last three months, insiders have sold 350,813 shares of company stock valued at $8,441,682. 10.17% of the stock is owned by company insiders.

A number of research firms recently weighed in on PENN. Telsey Advisory Group raised their price target on shares of Penn National Gaming from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Barclays raised their price target on shares of Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Morgan Stanley raised their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b+” rating in a report on Monday, November 13th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.55.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/01/rk-capital-management-llc-cuts-stake-in-penn-national-gaming-inc-penn.html.

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.

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)

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RK Capital Management LLC Cuts Stake in Penn National Gaming, Inc. (PENN)

RK Capital Management LLC lessened its holdings in Penn National Gaming, Inc. (NASDAQ:PENN) by 27.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 433,198 shares of the company’s stock after selling 162,700 shares during the period. Penn National Gaming comprises approximately 2.4% of RK Capital Management LLC’s holdings, making the stock its 22nd biggest holding. RK Capital Management LLC owned about 0.48% of Penn National Gaming worth $10,133,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Penn National Gaming by 16.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 704,540 shares of the company’s stock valued at $16,480,000 after acquiring an additional 101,867 shares during the period. Wells Fargo & Company MN grew its holdings in Penn National Gaming by 155.9% during the 3rd quarter. Wells Fargo & Company MN now owns 839,146 shares of the company’s stock valued at $19,627,000 after purchasing an additional 511,183 shares in the last quarter. Schroder Investment Management Group grew its holdings in Penn National Gaming by 236.1% during the 3rd quarter. Schroder Investment Management Group now owns 100,273 shares of the company’s stock valued at $2,327,000 after purchasing an additional 70,443 shares in the last quarter. SG Capital Management LLC acquired a new stake in Penn National Gaming during the 3rd quarter valued at $8,728,000. Finally, Legal & General Group Plc grew its holdings in Penn National Gaming by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 166,975 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,528 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Penn National Gaming, Inc. (NASDAQ PENN) traded up $0.32 during mid-day trading on Friday, reaching $28.76. 1,534,900 shares of the company’s stock traded hands, compared to its average volume of 1,253,198. The firm has a market cap of $2,539.75, a price-to-earnings ratio of 37.68, a P/E/G ratio of 7.08 and a beta of 0.97. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. Penn National Gaming, Inc. has a 52 week low of $12.77 and a 52 week high of $29.25.

In other news, CEO Timothy J. Wilmott sold 94,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $23.16, for a total value of $2,181,672.00. Following the transaction, the chief executive officer now directly owns 479,119 shares in the company, valued at approximately $11,096,396.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Wilmott sold 4,900 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $23.02, for a total transaction of $112,798.00. Following the completion of the transaction, the chief executive officer now owns 460,600 shares in the company, valued at $10,603,012. The disclosure for this sale can be found here. Over the last three months, insiders have sold 350,813 shares of company stock valued at $8,441,682. 10.17% of the stock is owned by company insiders.

A number of research firms recently weighed in on PENN. Telsey Advisory Group raised their price target on shares of Penn National Gaming from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Barclays raised their price target on shares of Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Morgan Stanley raised their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b+” rating in a report on Monday, November 13th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.55.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/01/rk-capital-management-llc-cuts-stake-in-penn-national-gaming-inc-penn.html.

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.

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.


 Comment on this Post

 
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