AHL Partners LLP grew its stake in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 226.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,831 shares of the company’s stock after purchasing an additional 125,481 shares during the quarter. AHL Partners LLP owned approximately 0.20% of Penn National Gaming worth $3,870,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in shares of Penn National Gaming by 1,461.6% in the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock valued at $107,000 after acquiring an additional 4,677 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Penn National Gaming in the first quarter valued at about $128,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Penn National Gaming in the first quarter valued at about $134,000. Van ECK Associates Corp raised its holdings in shares of Penn National Gaming by 11.8% in the first quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock valued at $194,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Penn National Gaming in the first quarter valued at about $195,000. 95.31% of the stock is owned by hedge funds and other institutional investors.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.07). Penn National Gaming had a negative return on equity of 16.72% and a net margin of 2.39%. The firm had revenue of $796.50 million for the quarter, compared to analysts’ expectations of $788.65 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. Penn National Gaming’s revenue was up 3.5% on a year-over-year basis.
A number of equities analysts have commented on the stock. Telsey Advisory Group boosted their target price on shares of Penn National Gaming from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. BidaskClub upgraded shares of Penn National Gaming from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $23.00 price target on shares of Penn National Gaming in a research note on Friday, July 14th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $21.50.
In other Penn National Gaming news, CEO Timothy J. Wilmott sold 84,436 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $24.12, for a total transaction of $2,036,596.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy J. Wilmott sold 5,400 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $23.02, for a total value of $124,308.00. Following the transaction, the chief executive officer now owns 460,600 shares in the company, valued at $10,603,012. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 285,351 shares of company stock worth $6,554,864. Corporate insiders own 10.17% 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 operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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