Rhumbline Advisers lifted its holdings in Penn National Gaming, Inc (NASDAQ:PENN) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,103 shares of the company’s stock after buying an additional 26,316 shares during the quarter. Rhumbline Advisers owned 0.22% of Penn National Gaming worth $6,269,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of PENN. Bamco Inc. NY raised its holdings in Penn National Gaming by 0.6% during the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock worth $129,155,000 after purchasing an additional 35,400 shares during the last quarter. Earnest Partners LLC acquired a new position in Penn National Gaming during the third quarter worth $36,544,000. Hennessy Advisors Inc. acquired a new position in Penn National Gaming during the fourth quarter worth $35,347,000. Wells Fargo & Company MN raised its holdings in shares of Penn National Gaming by 14.7% in the fourth quarter. Wells Fargo & Company MN now owns 962,695 shares of the company’s stock worth $30,161,000 after acquiring an additional 123,549 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Penn National Gaming by 16.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 704,540 shares of the company’s stock worth $16,480,000 after acquiring an additional 101,867 shares during the last quarter. Hedge funds and other institutional investors own 98.54% of the company’s stock.
In related news, Director Jane Scaccetti bought 2,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $27.51 per share, with a total value of $68,775.00. Following the completion of the transaction, the director now directly owns 14,831 shares of the company’s stock, valued at $408,000.81. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jay A. Snowden bought 10,560 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was bought at an average cost of $25.98 per share, with a total value of $274,348.80. Following the transaction, the insider now directly owns 72,567 shares of the company’s stock, valued at $1,885,290.66. The disclosure for this purchase can be found here. 10.17% of the stock is currently owned by insiders.
Penn National Gaming, Inc (NASDAQ:PENN) traded up $0.13 during trading on Wednesday, reaching $27.08. The company had a trading volume of 2,653,853 shares, compared to its average volume of 1,323,431. The firm has a market capitalization of $2,550.00, a price-to-earnings ratio of 3.48 and a beta of 1.51. Penn National Gaming, Inc has a 52-week low of $15.06 and a 52-week high of $33.30. The company has a debt-to-equity ratio of -64.22, a current ratio of 0.76 and a quick ratio of 0.76.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, February 8th. The company reported ($3.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($3.58). Penn National Gaming had a net margin of 15.97% and a negative return on equity of 27.80%. The business had revenue of $769.00 million during the quarter, compared to analyst estimates of $766.82 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities research analysts forecast that Penn National Gaming, Inc will post 1.48 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on PENN shares. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Tuesday, January 9th. Jefferies Group started coverage on Penn National Gaming in a report on Thursday, January 18th. They issued a “buy” rating and a $39.00 price target for the company. Deutsche Bank reissued a “buy” rating and issued a $38.00 price target (up from $32.00) on shares of Penn National Gaming in a report on Monday, January 22nd. BidaskClub cut Penn National Gaming from a “strong-buy” rating to a “buy” rating in a report on Friday, January 5th. Finally, Barclays boosted their price target on Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.30.
About Penn National Gaming
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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