Stoneridge Investment Partners LLC raised its position in shares of Penn National Gaming Inc. (NASDAQ:PENN) by 99.8% during the second quarter, Holdings Channel reports. The firm owned 132,451 shares of the company’s stock after buying an additional 66,150 shares during the period. Stoneridge Investment Partners LLC’s holdings in Penn National Gaming were worth $1,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in shares of Penn National Gaming during the first quarter worth about $100,000. BNP Paribas Arbitrage SA increased its position in shares of Penn National Gaming by 169.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,743 shares of the company’s stock worth $108,000 after buying an additional 4,866 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Penn National Gaming during the first quarter worth about $274,000. AMP Capital Investors Ltd increased its position in shares of Penn National Gaming by 39.8% in the first quarter. AMP Capital Investors Ltd now owns 17,900 shares of the company’s stock worth $295,000 after buying an additional 5,100 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Penn National Gaming by 22.1% in the first quarter. Legal & General Group Plc now owns 20,613 shares of the company’s stock worth $342,000 after buying an additional 3,737 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Shares of Penn National Gaming Inc. (NASDAQ:PENN) traded up 1.10% during trading on Wednesday, reaching $12.86. The company’s stock had a trading volume of 2,924,785 shares. Penn National Gaming Inc. has a 12-month low of $12.50 and a 12-month high of $19.05. The company has a 50 day moving average of $14.20 and a 200 day moving average of $14.96. The company has a market cap of $1.07 billion, a PE ratio of 21.83 and a beta of 0.98.

Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.09. The company had revenue of $769.40 million for the quarter, compared to the consensus estimate of $785.06 million. Penn National Gaming had a negative return on equity of 8.21% and a net margin of 1.79%. Penn National Gaming’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, analysts anticipate that Penn National Gaming Inc. will post $1.01 EPS for the current fiscal year.

A number of brokerages have issued reports on PENN. Deutsche Bank AG restated a “buy” rating on shares of Penn National Gaming in a research note on Sunday, June 26th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $18.00 price target on shares of Penn National Gaming in a research report on Thursday, May 26th. Morgan Stanley raised Penn National Gaming from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $15.00 to $16.00 in a research report on Wednesday, June 1st. They noted that the move was a valuation call. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, June 30th. Finally, Telsey Advisory Group dropped their price target on Penn National Gaming from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Penn National Gaming has a consensus rating of “Buy” and an average price target of $18.86.

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’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.

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