Penn National Gaming, Inc. (NASDAQ:PENN) Holdings Decreased by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,395,199 shares of the company’s stock after selling 745,280 shares during the quarter. Vanguard Group Inc. owned about 9.18% of Penn National Gaming worth $1,101,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Penn National Gaming by 40.3% in the first quarter. Geode Capital Management LLC now owns 3,386,546 shares of the company’s stock worth $354,592,000 after acquiring an additional 972,871 shares in the last quarter. Fred Alger Management LLC raised its position in Penn National Gaming by 179.3% in the first quarter. Fred Alger Management LLC now owns 1,404,741 shares of the company’s stock worth $147,273,000 after acquiring an additional 901,788 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Penn National Gaming by 1,354.6% in the second quarter. BNP Paribas Arbitrage SA now owns 782,191 shares of the company’s stock worth $59,830,000 after acquiring an additional 728,417 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Penn National Gaming by 30.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,858,948 shares of the company’s stock worth $194,892,000 after acquiring an additional 430,912 shares in the last quarter. Finally, Cambiar Investors LLC bought a new stake in Penn National Gaming in the second quarter worth about $28,301,000. Institutional investors and hedge funds own 83.16% of the company’s stock.

PENN opened at $74.69 on Thursday. Penn National Gaming, Inc. has a twelve month low of $52.09 and a twelve month high of $142.00. The firm has a market cap of $11.71 billion, a P/E ratio of 27.46 and a beta of 2.55. The business has a 50 day moving average price of $75.14 and a 200 day moving average price of $80.07. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.66 and a current ratio of 2.66.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, August 5th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.24. Penn National Gaming had a return on equity of 16.24% and a net margin of 8.89%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned ($1.69) earnings per share. The company’s quarterly revenue was up 406.0% compared to the same quarter last year. As a group, analysts anticipate that Penn National Gaming, Inc. will post 3.21 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on PENN. Capital One Financial began coverage on Penn National Gaming in a research note on Wednesday, September 1st. They issued an “overweight” rating on the stock. Wells Fargo & Company began coverage on Penn National Gaming in a research note on Tuesday, September 14th. They issued an “equal weight” rating and a $82.00 price target on the stock. Zacks Investment Research cut Penn National Gaming from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Tuesday, August 10th. Needham & Company LLC dropped their price target on Penn National Gaming from $151.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, August 6th. Finally, The Goldman Sachs Group dropped their price target on Penn National Gaming from $149.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Penn National Gaming has a consensus rating of “Buy” and an average target price of $113.60.

In other Penn National Gaming news, CEO Jay A. Snowden sold 14,900 shares of the company’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $80.46, for a total value of $1,198,854.00. Following the sale, the chief executive officer now directly owns 545,396 shares in the company, valued at $43,882,562.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay A. Snowden sold 148,387 shares of the company’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $77.23, for a total value of $11,459,928.01. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.

Penn National Gaming 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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