Schwab Charles Investment Management Inc. cut its stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 699,612 shares of the company’s stock after selling 4,928 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Penn National Gaming were worth $21,919,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of Penn National Gaming by 6.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after acquiring an additional 482 shares during the period. Royal Bank of Canada boosted its stake in Penn National Gaming by 209.1% in the 2nd quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after purchasing an additional 6,692 shares during the period. Meeder Asset Management Inc. boosted its stake in Penn National Gaming by 82.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock worth $214,000 after purchasing an additional 4,138 shares during the period. Connable Office Inc. bought a new position in Penn National Gaming in the 3rd quarter worth approximately $276,000. Finally, USA Financial Portformulas Corp bought a new position in Penn National Gaming in the 3rd quarter worth approximately $374,000. Institutional investors own 97.32% of the company’s stock.
Several research firms have weighed in on PENN. Morgan Stanley dropped their price target on Penn National Gaming from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th. Jefferies Group restated a “buy” rating and issued a $35.00 price target on shares of Penn National Gaming in a research note on Tuesday, February 6th. Deutsche Bank dropped their price target on Penn National Gaming from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, TheStreet upgraded Penn National Gaming from a “c+” rating to a “b+” rating in a research note on Monday, November 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Penn National Gaming presently has a consensus rating of “Buy” and an average price target of $30.60.
In other news, Director Jane Scaccetti acquired 2,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $27.51 per share, with a total value of $68,775.00. Following the acquisition, the director now directly owns 14,831 shares of the company’s stock, valued at $408,000.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. 10.17% of the stock is owned by corporate insiders.
Shares of Penn National Gaming, Inc (NASDAQ PENN) opened at $28.06 on Monday. The stock has a market capitalization of $2,560.00, a P/E ratio of 5.32 and a beta of 1.39. Penn National Gaming, Inc has a twelve month low of $13.89 and a twelve month high of $33.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($3.58). The firm had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $766.82 million. Penn National Gaming had a negative return on equity of 22.76% and a net margin of 15.97%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. equities research analysts predict that Penn National Gaming, Inc will post 1.48 earnings per share for the current fiscal year.
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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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