Gargoyle Investment Advisor L.L.C. decreased its position in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,535 shares of the company’s stock after selling 2,600 shares during the period. Gargoyle Investment Advisor L.L.C.’s holdings in Penn National Gaming were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PENN. BlackRock Inc. boosted its position in shares of Penn National Gaming by 138,953.6% in the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after buying an additional 8,891,641 shares during the period. Vanguard Group Inc. boosted its position in shares of Penn National Gaming by 17.7% in the first quarter. Vanguard Group Inc. now owns 6,939,822 shares of the company’s stock worth $127,901,000 after buying an additional 1,043,087 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Penn National Gaming by 1,387.8% in the first quarter. JPMorgan Chase & Co. now owns 1,839,178 shares of the company’s stock worth $33,896,000 after buying an additional 1,715,562 shares during the period. State Street Corp boosted its position in shares of Penn National Gaming by 33.1% in the first quarter. State Street Corp now owns 1,814,936 shares of the company’s stock worth $33,450,000 after buying an additional 451,424 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Penn National Gaming by 310.2% in the first quarter. Bank of New York Mellon Corp now owns 1,771,232 shares of the company’s stock worth $32,644,000 after buying an additional 1,339,468 shares during the period. 93.36% of the stock is currently owned by hedge funds and other institutional investors.

Penn National Gaming, Inc. (PENN) opened at 21.32 on Tuesday. The stock’s 50 day moving average is $20.86 and its 200-day moving average is $18.40. Penn National Gaming, Inc. has a 52-week low of $11.93 and a 52-week high of $22.19. The firm has a market capitalization of $1.94 billion, a PE ratio of 26.78 and a beta of 1.01.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.07. The company had revenue of $796.50 million for the quarter, compared to the consensus estimate of $788.65 million. Penn National Gaming had a negative return on equity of 16.72% and a net margin of 2.39%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts expect that Penn National Gaming, Inc. will post $0.62 earnings per share for the current year.

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A number of research analysts have weighed in on PENN shares. BidaskClub cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Barclays PLC lifted their price target on shares of Penn National Gaming from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, May 3rd. Instinet reaffirmed a “neutral” rating and set a $21.00 price target (up from $19.00) on shares of Penn National Gaming in a research report on Monday, June 19th. ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.00.

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 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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