Eagle Asset Management Inc. lessened its position in Penn National Gaming (NASDAQ:PENN) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,395,705 shares of the company’s stock after selling 10,562 shares during the period. Eagle Asset Management Inc. owned about 3.70% of Penn National Gaming worth $89,171,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of PENN. LS Investment Advisors LLC bought a new position in shares of Penn National Gaming in the fourth quarter worth approximately $127,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Penn National Gaming in the fourth quarter worth approximately $212,000. Shelton Capital Management bought a new position in shares of Penn National Gaming in the fourth quarter worth approximately $231,000. PHH Investments Ltd. bought a new position in shares of Penn National Gaming in the fourth quarter worth approximately $235,000. Finally, Mackay Shields LLC bought a new position in shares of Penn National Gaming in the first quarter worth approximately $247,000. Hedge funds and other institutional investors own 99.10% of the company’s stock.
Shares of Penn National Gaming stock opened at $35.45 on Friday. The company has a market cap of $3.12 billion, a P/E ratio of 3.95 and a beta of 1.41. Penn National Gaming has a twelve month low of $33.98 and a twelve month high of $34.30. The company has a debt-to-equity ratio of -138.00, a quick ratio of 0.70 and a current ratio of 0.70.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 26th. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.09. Penn National Gaming had a net margin of 17.04% and a negative return on equity of 92.84%. The business had revenue of $816.10 million for the quarter, compared to the consensus estimate of $805.70 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. research analysts anticipate that Penn National Gaming will post 1.55 earnings per share for the current fiscal year.
In other Penn National Gaming news, CEO Timothy J. Wilmott sold 102,528 shares of the stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $30.41, for a total value of $3,117,876.48. Following the transaction, the chief executive officer now directly owns 615,395 shares in the company, valued at $18,714,161.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Wilmott sold 84,084 shares of the stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $30.30, for a total transaction of $2,547,745.20. Following the completion of the transaction, the chief executive officer now owns 580,093 shares in the company, valued at $17,576,817.90. The disclosure for this sale can be found here. 10.56% of the stock is currently owned by company insiders.
PENN has been the topic of a number of research analyst reports. Jefferies Group initiated coverage on shares of Penn National Gaming in a research report on Thursday, January 18th. They set a “buy” rating and a $39.00 price objective on the stock. Deutsche Bank restated a “buy” rating and set a $38.00 price objective (up previously from $32.00) on shares of Penn National Gaming in a research report on Monday, January 22nd. Morgan Stanley lowered their price objective on shares of Penn National Gaming from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, BidaskClub downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $33.00.
Penn National Gaming Company 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 Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.
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