Timothy J. Wilmott Sells 94,200 Shares of Penn National Gaming, Inc. (PENN) Stock
Penn National Gaming, Inc. (NASDAQ:PENN) CEO Timothy J. Wilmott sold 94,200 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $23.16, for a total transaction of $2,181,672.00. Following the sale, the chief executive officer now directly owns 479,119 shares in the company, valued at approximately $11,096,396.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Penn National Gaming, Inc. (NASDAQ:PENN) opened at 23.39 on Friday. The company’s 50-day moving average is $21.46 and its 200 day moving average is $19.78. Penn National Gaming, Inc. has a 12 month low of $11.93 and a 12 month high of $23.50. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 29.38 and a beta of 0.99.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.07). Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The firm had revenue of $796.50 million during the quarter, compared to the consensus estimate of $788.65 million. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Penn National Gaming, Inc. will post $0.61 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Penn National Gaming by 138,953.6% during the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after acquiring an additional 8,891,641 shares during the period. Vanguard Group Inc. increased its position in Penn National Gaming by 5.8% during the second quarter. Vanguard Group Inc. now owns 7,344,994 shares of the company’s stock worth $157,183,000 after acquiring an additional 405,172 shares during the period. FMR LLC increased its position in Penn National Gaming by 689.3% during the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock worth $109,840,000 after acquiring an additional 4,482,402 shares during the period. Bank of New York Mellon Corp increased its position in Penn National Gaming by 35.1% during the second quarter. Bank of New York Mellon Corp now owns 2,393,714 shares of the company’s stock worth $51,225,000 after acquiring an additional 622,482 shares during the period. Finally, State Street Corp increased its position in Penn National Gaming by 8.6% during the second quarter. State Street Corp now owns 1,971,391 shares of the company’s stock worth $42,183,000 after acquiring an additional 156,455 shares during the period. 95.31% of the stock is currently owned by institutional investors.
A number of research firms recently commented on PENN. BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 price target (up previously from $22.00) on shares of Penn National Gaming in a report on Thursday, June 22nd. Instinet reaffirmed a “neutral” rating and issued a $21.00 price target (up previously from $19.00) on shares of Penn National Gaming in a report on Monday, June 19th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $23.00 price target on shares of Penn National Gaming in a report on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average 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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