Two Sigma Advisers LP decreased its position in Penn National Gaming, Inc. (NASDAQ:PENN) by 52.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,090 shares of the company’s stock after selling 306,000 shares during the period. Two Sigma Advisers LP owned 0.33% of Penn National Gaming worth $3,706,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Penn National Gaming by 18.1% in the third quarter. BNP Paribas Arbitrage SA now owns 9,141 shares of the company’s stock worth $124,000 after buying an additional 1,398 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Penn National Gaming by 12.6% in the second quarter. Teacher Retirement System of Texas now owns 9,998 shares of the company’s stock worth $139,000 after buying an additional 1,119 shares during the last quarter. Sterling Capital Management LLC bought a new stake in Penn National Gaming during the second quarter worth $242,000. Connable Office Inc. bought a new stake in Penn National Gaming during the third quarter worth $252,000. Finally, Acrospire Investment Management LLC increased its stake in Penn National Gaming by 121.4% in the third quarter. Acrospire Investment Management LLC now owns 18,679 shares of the company’s stock worth $253,000 after buying an additional 10,243 shares during the last quarter. 98.98% of the stock is owned by institutional investors and hedge funds.
Shares of Penn National Gaming, Inc. (NASDAQ:PENN) traded down 1.90% during midday trading on Friday, hitting $13.97. 957,166 shares of the company were exchanged. Penn National Gaming, Inc. has a one year low of $11.93 and a one year high of $17.40. The company’s 50 day moving average price is $13.79 and its 200 day moving average price is $13.84. The firm has a market cap of $1.16 billion, a P/E ratio of 11.74 and a beta of 0.88.
Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, February 2nd. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.19. The business earned $742.90 million during the quarter, compared to analyst estimates of $747.56 million. Penn National Gaming had a negative return on equity of 18.12% and a net margin of 3.60%. Penn National Gaming’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. Equities analysts expect that Penn National Gaming, Inc. will post $0.41 EPS for the current year.
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A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Penn National Gaming from a “strong sell” rating to a “hold” rating in a research report on Wednesday. J P Morgan Chase & Co downgraded shares of Penn National Gaming from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $16.00 in a report on Thursday, January 5th. Barclays PLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Penn National Gaming in a report on Monday, February 6th. SunTrust Banks, Inc. began coverage on shares of Penn National Gaming in a report on Thursday. They issued a “hold” rating and a $14.00 price objective for the company. Finally, Buckingham Research began coverage on shares of Penn National Gaming in a report on Friday, January 27th. They issued a “buy” rating and a $17.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.40.
In related news, EVP Carl Sottosanti sold 37,598 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $13.86, for a total value of $521,108.28. Following the completion of the transaction, the executive vice president now directly owns 35,696 shares in the company, valued at $494,746.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.10% of the company’s stock.
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’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.
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