Penn National Gaming, Inc. (PENN) Stake Reduced by Scopus Asset Management L.P.

Scopus Asset Management L.P. decreased its stake in Penn National Gaming, Inc. (NASDAQ:PENN) by 38.5% during the first quarter, Holdings Channel reports. The firm owned 1,230,798 shares of the company’s stock after selling 769,202 shares during the period. Scopus Asset Management L.P. owned about 1.36% of Penn National Gaming worth $22,684,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of PENN. Russell Investments Group Ltd. acquired a new stake in Penn National Gaming during the fourth quarter valued at about $7,042,000. State Street Corp boosted its stake in Penn National Gaming by 3.8% in the fourth quarter. State Street Corp now owns 1,363,512 shares of the company’s stock valued at $18,800,000 after buying an additional 49,617 shares during the period. Van ECK Associates Corp boosted its stake in Penn National Gaming by 9.2% in the fourth quarter. Van ECK Associates Corp now owns 9,429 shares of the company’s stock valued at $130,000 after buying an additional 795 shares during the period. Oxford Asset Management acquired a new stake in Penn National Gaming during the fourth quarter valued at about $1,802,000. Finally, Federated Investors Inc. PA boosted its stake in Penn National Gaming by 3.4% in the fourth quarter. Federated Investors Inc. PA now owns 439,320 shares of the company’s stock valued at $6,059,000 after buying an additional 14,242 shares during the period. 94.55% of the stock is owned by institutional investors.

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

Penn National Gaming, Inc. (NASDAQ PENN) traded down 0.37% on Friday, reaching $21.43. The company had a trading volume of 1,471,334 shares. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.69 and a beta of 0.99. The stock’s 50-day moving average price is $19.60 and its 200 day moving average price is $16.29. Penn National Gaming, Inc. has a 52-week low of $11.93 and a 52-week high of $22.19.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.02. Penn National Gaming had a net margin of 2.97% and a negative return on equity of 19.08%. The company had revenue of $776.20 million during the quarter, compared to analyst estimates of $769.81 million. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Penn National Gaming, Inc. will post $0.63 earnings per share for the current fiscal year.

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PENN has been the subject of several recent analyst reports. SunTrust Banks, Inc. reissued a “hold” rating and set a $14.00 target price on shares of Penn National Gaming in a research note on Thursday, February 16th. Barclays PLC raised their price target on Penn National Gaming from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, March 27th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, April 6th. FBR & Co restated an “outperform” rating and set a $23.00 price target (up from $20.00) on shares of Penn National Gaming in a research report on Monday, April 10th. Finally, Stifel Nicolaus raised their price target on Penn National Gaming from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.50.

Penn National Gaming Company Profile

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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