Flagship Harbor Advisors LLC Has $132,000 Stock Position in Penn National Gaming, Inc (NASDAQ:PENN)

Flagship Harbor Advisors LLC raised its holdings in Penn National Gaming, Inc (NASDAQ:PENN) by 69.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,825 shares of the company’s stock after buying an additional 750 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Penn National Gaming were worth $132,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Penn National Gaming by 89.5% during the 2nd quarter. Signaturefd LLC now owns 813 shares of the company’s stock worth $25,000 after purchasing an additional 384 shares in the last quarter. Private Capital Group LLC grew its holdings in shares of Penn National Gaming by 132.8% during the 2nd quarter. Private Capital Group LLC now owns 1,257 shares of the company’s stock worth $38,000 after purchasing an additional 717 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Penn National Gaming by 602.5% during the 2nd quarter. Synovus Financial Corp now owns 1,405 shares of the company’s stock worth $43,000 after purchasing an additional 1,205 shares in the last quarter. Arrow Financial Corp acquired a new stake in shares of Penn National Gaming during the 2nd quarter worth approximately $43,000. Finally, CWM LLC grew its holdings in shares of Penn National Gaming by 1,288.6% during the 2nd quarter. CWM LLC now owns 1,458 shares of the company’s stock worth $45,000 after purchasing an additional 1,353 shares in the last quarter. 87.81% of the stock is currently owned by institutional investors.

NASDAQ PENN opened at $70.91 on Friday. The stock has a fifty day moving average of $64.48 and a 200-day moving average of $38.00. The stock has a market capitalization of $11.00 billion, a P/E ratio of -9.62 and a beta of 2.84. Penn National Gaming, Inc has a 52 week low of $3.75 and a 52 week high of $76.62. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.99 and a current ratio of 1.99.

Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, August 6th. The company reported ($1.69) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.06) by $0.37. The company had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $242.94 million. Penn National Gaming had a negative return on equity of 15.63% and a negative net margin of 21.16%. The business’s revenue for the quarter was down 76.9% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Equities research analysts forecast that Penn National Gaming, Inc will post -1.39 earnings per share for the current fiscal year.

In related news, EVP Carl Sottosanti sold 66,281 shares of Penn National Gaming stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.09, for a total transaction of $3,121,172.29. Following the completion of the sale, the executive vice president now directly owns 152,829 shares of the company’s stock, valued at $7,196,717.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christine Labombard sold 13,400 shares of Penn National Gaming stock in a transaction on Friday, October 9th. The stock was sold at an average price of $66.36, for a total value of $889,224.00. Following the sale, the chief accounting officer now directly owns 19,052 shares of the company’s stock, valued at $1,264,290.72. The disclosure for this sale can be found here. Insiders sold a total of 111,221 shares of company stock valued at $5,973,002 over the last three months. Insiders own 1.81% of the company’s stock.

Several analysts have recently weighed in on PENN shares. Craig Hallum lifted their price objective on Penn National Gaming from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. ValuEngine upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Barclays raised their target price on Penn National Gaming from $50.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Morgan Stanley raised their target price on Penn National Gaming from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $63.75.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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

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