Massachusetts Financial Services Co. MA Grows Position in Penn National Gaming, Inc. (NASDAQ:PENN)

Massachusetts Financial Services Co. MA increased its position in Penn National Gaming, Inc. (NASDAQ:PENN) by 20.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,387,730 shares of the company’s stock after purchasing an additional 400,613 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Penn National Gaming were worth $173,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PENN. O Shaughnessy Asset Management LLC lifted its stake in shares of Penn National Gaming by 9.2% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 5,081 shares of the company’s stock valued at $388,000 after purchasing an additional 429 shares during the period. Rafferty Asset Management LLC purchased a new position in shares of Penn National Gaming in the 2nd quarter valued at approximately $1,484,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Penn National Gaming by 274.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 216,763 shares of the company’s stock valued at $16,580,000 after purchasing an additional 158,859 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Penn National Gaming by 28.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 77,218 shares of the company’s stock valued at $5,906,000 after purchasing an additional 17,322 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Penn National Gaming by 445.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,044 shares of the company’s stock valued at $1,074,000 after purchasing an additional 11,470 shares during the period. Institutional investors own 78.52% of the company’s stock.

A number of research analysts have recently commented on PENN shares. The Goldman Sachs Group lowered their target price on Penn National Gaming from $128.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 27th. Roth Capital began coverage on Penn National Gaming in a research report on Tuesday, October 12th. They set a “buy” rating and a $107.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Penn National Gaming from $31.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, November 29th. Truist reduced their price objective on Penn National Gaming from $95.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company reduced their price objective on Penn National Gaming from $72.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, January 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Penn National Gaming presently has an average rating of “Buy” and a consensus target price of $93.50.

Penn National Gaming stock opened at $44.45 on Friday. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 19.24 and a beta of 2.49. The stock has a fifty day simple moving average of $50.87 and a two-hundred day simple moving average of $65.78. Penn National Gaming, Inc. has a 12 month low of $43.36 and a 12 month high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 2.21.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.32). The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Penn National Gaming had a return on equity of 13.64% and a net margin of 7.22%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. On average, equities research analysts forecast that Penn National Gaming, Inc. will post 2.64 EPS for the current fiscal year.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, and Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

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

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