Penn National Gaming, Inc (PENN) Shares Sold by Virginia Retirement Systems ET AL

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Virginia Retirement Systems ET AL cut its stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) by 12.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,100 shares of the company’s stock after selling 4,700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Penn National Gaming were worth $1,112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bamco Inc. NY grew its holdings in shares of Penn National Gaming by 12.6% during the first quarter. Bamco Inc. NY now owns 6,481,736 shares of the company’s stock valued at $170,210,000 after buying an additional 723,929 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Penn National Gaming by 64.9% during the first quarter. Millennium Management LLC now owns 2,337,500 shares of the company’s stock valued at $61,383,000 after buying an additional 920,184 shares during the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of Penn National Gaming by 1.3% during the first quarter. Carillon Tower Advisers Inc. now owns 2,322,613 shares of the company’s stock valued at $58,367,000 after buying an additional 30,656 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Penn National Gaming by 16.8% during the first quarter. Hennessy Advisors Inc. now owns 1,317,800 shares of the company’s stock valued at $34,605,000 after buying an additional 189,600 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Penn National Gaming by 12.0% during the first quarter. JPMorgan Chase & Co. now owns 1,277,501 shares of the company’s stock valued at $33,548,000 after buying an additional 137,218 shares during the last quarter. 98.70% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:PENN opened at $33.05 on Friday. Penn National Gaming, Inc has a one year low of $20.05 and a one year high of $36.90. The company has a debt-to-equity ratio of 162.63, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 3.68, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, July 26th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. Penn National Gaming had a net margin of 18.02% and a return on equity of 268.43%. The company had revenue of $826.91 million for the quarter, compared to analyst estimates of $840.15 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. sell-side analysts anticipate that Penn National Gaming, Inc will post 1.77 earnings per share for the current year.

In other Penn National Gaming news, CEO Timothy J. Wilmott sold 32,196 shares of the company’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $35.04, for a total value of $1,128,147.84. Following the sale, the chief executive officer now directly owns 534,559 shares of the company’s stock, valued at $18,730,947.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Wilmott purchased 100,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $3,085,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 101,450 shares of company stock worth $3,132,336 and sold 319,412 shares worth $11,217,893. 10.56% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on PENN. Bank of America boosted their price objective on shares of Penn National Gaming from $36.50 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, July 17th. BidaskClub lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b-” rating in a report on Monday, May 21st. Nomura upped their price target on shares of Penn National Gaming from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, May 24th. Finally, ValuEngine raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $36.27.

Penn National Gaming 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 Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

Further Reading: Growth Stocks

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

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