12,727 Shares in Penn National Gaming, Inc. (NASDAQ:PENN) Acquired by NorthCoast Asset Management LLC

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.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 5th. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.93 by $0.24. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.50 billion. Penn National Gaming had a net margin of 8.89% and a return on equity of 16.24%. The business’s revenue was up 406.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.69) earnings per share. On average, research analysts predict that Penn National Gaming, Inc. will post 3.21 EPS for the current year.

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.

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

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