Envestnet Asset Management Inc. Boosts Stock Position in Penn National Gaming, Inc (NASDAQ:PENN)

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Envestnet Asset Management Inc. boosted its holdings in Penn National Gaming, Inc (NASDAQ:PENN) by 18.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,009 shares of the company’s stock after purchasing an additional 6,896 shares during the period. Envestnet Asset Management Inc.’s holdings in Penn National Gaming were worth $838,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PENN. Bessemer Group Inc. bought a new stake in shares of Penn National Gaming in the second quarter valued at $29,000. MUFG Americas Holdings Corp bought a new stake in shares of Penn National Gaming in the second quarter valued at $34,000. Meeder Asset Management Inc. raised its stake in shares of Penn National Gaming by 110.7% in the third quarter. Meeder Asset Management Inc. now owns 2,848 shares of the company’s stock valued at $53,000 after buying an additional 1,496 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Penn National Gaming in the second quarter valued at $57,000. Finally, Pearl River Capital LLC bought a new stake in shares of Penn National Gaming in the second quarter valued at $130,000. 99.33% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Saul Reibstein bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $17.30 per share, with a total value of $51,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.53% of the stock is currently owned by corporate insiders.

Shares of NASDAQ PENN opened at $22.43 on Friday. Penn National Gaming, Inc has a twelve month low of $16.72 and a twelve month high of $26.45. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 5.89. The stock’s 50-day simple moving average is $20.02 and its two-hundred day simple moving average is $19.61. The firm has a market capitalization of $2.55 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.45 and a beta of 1.71.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). Penn National Gaming had a return on equity of 6.32% and a net margin of 1.85%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 71.5% on a year-over-year basis. As a group, research analysts anticipate that Penn National Gaming, Inc will post 1.52 EPS for the current fiscal year.

A number of research firms recently issued reports on PENN. Morgan Stanley set a $27.00 price objective on Penn National Gaming and gave the company a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank reiterated a “buy” rating and set a $27.00 price objective on shares of Penn National Gaming in a research note on Sunday, August 4th. BidaskClub lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Jefferies Financial Group lowered Penn National Gaming from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $23.00 in a research note on Friday, November 1st. Finally, Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.70.

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 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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