California State Teachers Retirement System Lowers Stock Position in Penn National Gaming, Inc. (NASDAQ:PENN)

California State Teachers Retirement System lowered its position in Penn National Gaming, Inc. (NASDAQ:PENN) by 0.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 235,193 shares of the company’s stock after selling 601 shares during the period. California State Teachers Retirement System’s holdings in Penn National Gaming were worth $24,658,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Montag A & Associates Inc. purchased a new stake in shares of Penn National Gaming in the first quarter valued at about $26,000. E Fund Management Co. Ltd. purchased a new stake in shares of Penn National Gaming in the first quarter valued at about $27,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Penn National Gaming in the first quarter valued at about $28,000. Norway Savings Bank raised its holdings in shares of Penn National Gaming by 50.0% in the first quarter. Norway Savings Bank now owns 300 shares of the company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Finally, Optimum Investment Advisors purchased a new stake in shares of Penn National Gaming in the first quarter valued at about $33,000. Institutional investors own 85.89% of the company’s stock.

PENN opened at $73.19 on Thursday. The stock has a market capitalization of $11.44 billion, a P/E ratio of -522.75 and a beta of 2.56. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.48 and a quick ratio of 2.48. The stock has a 50-day simple moving average of $77.02. Penn National Gaming, Inc. has a twelve month low of $31.86 and a twelve month high of $142.00.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 6th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. Penn National Gaming had a net margin of 0.81% and a return on equity of 1.27%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business earned ($5.26) earnings per share. Penn National Gaming’s revenue was up 14.2% compared to the same quarter last year. On average, research analysts expect that Penn National Gaming, Inc. will post 2.86 earnings per share for the current year.

Several analysts have recently commented on the stock. Redburn Partners started coverage on shares of Penn National Gaming in a report on Tuesday, April 27th. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Penn National Gaming from a “hold” rating to a “strong sell” rating and set a $86.00 price objective for the company. in a report on Thursday, April 15th. Needham & Company LLC started coverage on shares of Penn National Gaming in a report on Monday, April 26th. They set a “buy” rating and a $151.00 price objective for the company. TheStreet upgraded shares of Penn National Gaming from a “d+” rating to a “c” rating in a report on Monday, May 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Penn National Gaming from $153.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, April 21st. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Penn National Gaming presently has a consensus rating of “Hold” and an average target price of $108.17.

Penn National Gaming Company Profile

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through four segments: Northeast, South, West, and Midwest. The company operates live sports betting properties in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, Nevada, Pennsylvania, and West Virginia; Barstool Sports, an online sports betting app in Pennsylvania; and online social casino, bingo, and online casinos under the iGaming name in Pennsylvania and Michigan.

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

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