Penn National Gaming, Inc. (PENN) Stake Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in Penn National Gaming, Inc. (NASDAQ:PENN) by 331.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 551,890 shares of the company’s stock after purchasing an additional 424,090 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.61% of Penn National Gaming worth $11,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of Penn National Gaming by 8.6% in the second quarter. State Street Corp now owns 1,971,391 shares of the company’s stock worth $42,183,000 after purchasing an additional 156,455 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Penn National Gaming by 209.1% in the second quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after purchasing an additional 6,692 shares during the last quarter. AHL Partners LLP raised its stake in shares of Penn National Gaming by 226.7% in the second quarter. AHL Partners LLP now owns 180,831 shares of the company’s stock worth $3,870,000 after purchasing an additional 125,481 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of Penn National Gaming by 49.3% in the second quarter. Employees Retirement System of Texas now owns 103,000 shares of the company’s stock worth $2,204,000 after purchasing an additional 34,000 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Penn National Gaming in the second quarter worth $402,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.

A number of analysts recently commented on PENN shares. Telsey Advisory Group upped their price objective on Penn National Gaming from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Saturday, October 7th. BidaskClub upgraded Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. ValuEngine cut Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $23.00 price objective on shares of Penn National Gaming in a research report on Friday, July 14th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Penn National Gaming has an average rating of “Buy” and a consensus target price of $21.50.

In other Penn National Gaming news, insider Jay A. Snowden sold 50,000 shares of Penn National Gaming stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $20.86, for a total transaction of $1,043,000.00. Following the completion of the transaction, the insider now owns 86,281 shares in the company, valued at approximately $1,799,821.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Wilmott sold 94,200 shares of Penn National Gaming stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $23.16, for a total value of $2,181,672.00. Following the transaction, the chief executive officer now owns 479,119 shares of the company’s stock, valued at approximately $11,096,396.04. The disclosure for this sale can be found here. Insiders have sold a total of 282,755 shares of company stock valued at $6,492,534 in the last quarter. Company insiders own 10.17% of the company’s stock.

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Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.07). The company had revenue of $796.50 million for the quarter, compared to analysts’ expectations of $788.65 million. Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS.

Penn National Gaming Company Profile

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

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