NorthCoast Asset Management LLC bought a new position in shares of Penn National Gaming, Inc. (NASDAQ:PENN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,727 shares of the company’s stock, valued at approximately $973,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sanders Morris Harris LLC bought a new stake in Penn National Gaming during the 2nd quarter worth approximately $1,703,000. Norinchukin Bank The bought a new position in Penn National Gaming during the first quarter worth $1,296,000. FineMark National Bank & Trust bought a new position in Penn National Gaming during the first quarter worth $1,573,000. AdvisorShares Investments LLC raised its holdings in Penn National Gaming by 332.8% during the first quarter. AdvisorShares Investments LLC now owns 21,813 shares of the company’s stock worth $2,287,000 after buying an additional 16,773 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Penn National Gaming during the first quarter worth $1,819,000. 83.16% of the stock is currently owned by hedge funds and other institutional investors.
PENN stock opened at $70.15 on Wednesday. The company has a market capitalization of $11.00 billion, a PE ratio of 25.79 and a beta of 2.55. Penn National Gaming, Inc. has a one year low of $52.09 and a one year high of $142.00. The company’s 50 day moving average price is $73.54 and its two-hundred day moving average price is $84.70. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.66 and a current ratio of 2.66.
In related news, CEO Jay A. Snowden sold 14,900 shares of Penn National Gaming stock in a transaction on Monday, September 13th. The shares were sold at an average price of $80.46, for a total value of $1,198,854.00. Following the transaction, the chief executive officer now directly owns 545,396 shares of the company’s stock, valued at $43,882,562.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.81% of the company’s stock.
Several brokerages have recently commented on PENN. Wells Fargo & Company began coverage on shares of Penn National Gaming in a report on Tuesday, September 14th. They issued an “equal weight” rating and a $82.00 target price for the company. Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Tuesday, August 10th. Needham & Company LLC reduced their price target on shares of Penn National Gaming from $151.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, August 6th. Capital One Financial assumed coverage on shares of Penn National Gaming in a research report on Wednesday, September 1st. They set an “overweight” rating for the company. Finally, The Goldman Sachs Group cut their target price on shares of Penn National Gaming from $149.00 to $124.00 and set a “buy” rating for the company in a research report on Wednesday, July 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Penn National Gaming has a consensus rating of “Buy” and an average target price of $102.53.
About Penn National Gaming
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.
Featured Article: What is a stock portfolio tracker?
Want to see what other hedge funds are holding PENN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penn National Gaming, Inc. (NASDAQ:PENN).
Receive News & Ratings for Penn National Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming and related companies with MarketBeat.com's FREE daily email newsletter.