Vanguard Group Inc. increased its position in shares of Penn National Gaming, Inc (NASDAQ:PENN) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,970,340 shares of the company’s stock after buying an additional 205,577 shares during the period. Vanguard Group Inc. owned 7.55% of Penn National Gaming worth $295,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE increased its holdings in Penn National Gaming by 61,460.0% during the second quarter. US Bancorp DE now owns 12,312 shares of the company’s stock worth $413,000 after buying an additional 12,292 shares during the last quarter. AXA increased its holdings in Penn National Gaming by 45.9% during the third quarter. AXA now owns 305,000 shares of the company’s stock worth $10,041,000 after buying an additional 96,000 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Penn National Gaming by 46.6% during the third quarter. MetLife Investment Advisors LLC now owns 58,248 shares of the company’s stock worth $1,918,000 after buying an additional 18,526 shares during the last quarter. Cowen Inc. increased its holdings in Penn National Gaming by 2.8% during the second quarter. Cowen Inc. now owns 107,588 shares of the company’s stock worth $3,614,000 after buying an additional 2,911 shares during the last quarter. Finally, Carillon Tower Advisers Inc. increased its holdings in Penn National Gaming by 3.5% during the third quarter. Carillon Tower Advisers Inc. now owns 2,403,342 shares of the company’s stock worth $79,118,000 after buying an additional 80,729 shares during the last quarter. Institutional investors and hedge funds own 79.62% of the company’s stock.

PENN stock opened at $24.86 on Monday. The company has a debt-to-equity ratio of 63.61, a current ratio of 0.74 and a quick ratio of 0.74. Penn National Gaming, Inc has a one year low of $17.30 and a one year high of $36.90. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 2.77, a P/E/G ratio of 1.57 and a beta of 1.82.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.05). Penn National Gaming had a negative return on equity of 6,177.13% and a negative net margin of 5.41%. The company had revenue of $789.70 million for the quarter, compared to the consensus estimate of $807.79 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Penn National Gaming, Inc will post 0.89 earnings per share for the current fiscal year.

Penn National Gaming declared that its board has approved a share buyback program on Wednesday, January 9th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

PENN has been the topic of a number of recent analyst reports. SunTrust Banks initiated coverage on shares of Penn National Gaming in a report on Tuesday, October 2nd. They set a “buy” rating and a $39.00 target price on the stock. ValuEngine downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a report on Tuesday, September 25th. Morgan Stanley set a $31.00 target price on shares of Penn National Gaming and gave the stock a “hold” rating in a report on Monday, November 5th. Finally, TheStreet cut shares of Penn National Gaming from a “b-” rating to a “c” rating in a research report on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.11.

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

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