Penn National Gaming, Inc (NASDAQ:PENN) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in Penn National Gaming, Inc (NASDAQ:PENN) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 509,003 shares of the company’s stock after selling 42,550 shares during the period. Wells Fargo & Company MN’s holdings in Penn National Gaming were worth $9,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC increased its holdings in Penn National Gaming by 7.6% in the 1st quarter. FMR LLC now owns 7,772,497 shares of the company’s stock valued at $156,228,000 after purchasing an additional 547,387 shares in the last quarter. Jennison Associates LLC boosted its position in Penn National Gaming by 23.2% in the second quarter. Jennison Associates LLC now owns 1,329,586 shares of the company’s stock valued at $25,608,000 after buying an additional 250,143 shares in the last quarter. Geode Capital Management LLC boosted its position in Penn National Gaming by 31.7% in the fourth quarter. Geode Capital Management LLC now owns 1,302,174 shares of the company’s stock valued at $24,519,000 after buying an additional 313,346 shares in the last quarter. Copper Rock Capital Partners LLC boosted its position in Penn National Gaming by 15.7% in the second quarter. Copper Rock Capital Partners LLC now owns 1,156,366 shares of the company’s stock valued at $22,272,000 after buying an additional 157,089 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Penn National Gaming by 30.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,384 shares of the company’s stock valued at $20,456,000 after buying an additional 252,915 shares in the last quarter. Hedge funds and other institutional investors own 99.44% of the company’s stock.

Shares of NASDAQ PENN traded up $0.04 during trading on Thursday, reaching $20.69. The company had a trading volume of 269,761 shares, compared to its average volume of 1,854,717. Penn National Gaming, Inc has a 52 week low of $16.72 and a 52 week high of $34.72. The stock has a market cap of $2.34 billion, a PE ratio of 22.24, a PEG ratio of 1.27 and a beta of 1.72. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50 day moving average price is $18.76 and its 200-day moving average price is $20.15.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.10. Penn National Gaming had a net margin of 1.90% and a return on equity of 7.61%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was up 60.0% on a year-over-year basis. Equities analysts anticipate that Penn National Gaming, Inc will post 1.58 earnings per share for the current year.

A number of equities analysts have commented on the stock. Morgan Stanley set a $27.00 price target on shares of Penn National Gaming and gave the company a “buy” rating in a research report on Friday, August 2nd. Susquehanna Bancshares assumed coverage on shares of Penn National Gaming in a research report on Wednesday, July 24th. They issued a “positive” rating and a $25.00 price target on the stock. Union Gaming Research upgraded shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. BidaskClub raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $27.00 target price on shares of Penn National Gaming in a research note on Sunday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Penn National Gaming presently has an average rating of “Buy” and a consensus price target of $30.02.

In other Penn National Gaming news, Director Saul Reibstein purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $17.30 per share, with a total value of $51,900.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Handler purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $17.68 per share, with a total value of $530,400.00. Following the completion of the purchase, the director now owns 169,870 shares of the company’s stock, valued at $3,003,301.60. The disclosure for this purchase can be found here. Insiders own 8.53% of the company’s stock.

Penn National Gaming Company 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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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

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