QS Investors LLC trimmed its stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,222 shares of the company’s stock after selling 11,244 shares during the period. QS Investors LLC owned 0.29% of Penn National Gaming worth $8,184,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Carillon Tower Advisers Inc. acquired a new stake in shares of Penn National Gaming in the fourth quarter valued at about $71,807,000. Earnest Partners LLC acquired a new stake in shares of Penn National Gaming in the third quarter valued at about $36,544,000. Hennessy Advisors Inc. acquired a new stake in Penn National Gaming during the fourth quarter worth about $35,347,000. Arrowstreet Capital Limited Partnership increased its position in Penn National Gaming by 113.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,344,104 shares of the company’s stock worth $42,111,000 after purchasing an additional 714,928 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Penn National Gaming by 155.9% during the third quarter. Wells Fargo & Company MN now owns 839,146 shares of the company’s stock worth $19,627,000 after purchasing an additional 511,183 shares during the last quarter. 98.54% of the stock is currently owned by institutional investors and hedge funds.
Penn National Gaming, Inc (PENN) opened at $27.25 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of -64.22. Penn National Gaming, Inc has a 12 month low of $14.68 and a 12 month high of $33.30. The company has a market cap of $2,498.18, a P/E ratio of 5.17 and a beta of 1.48.
In related news, insider Jay A. Snowden acquired 10,560 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $25.98 per share, with a total value of $274,348.80. Following the completion of the acquisition, the insider now owns 72,567 shares in the company, valued at $1,885,290.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane Scaccetti acquired 2,500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $27.51 per share, for a total transaction of $68,775.00. Following the acquisition, the director now owns 14,831 shares of the company’s stock, valued at approximately $408,000.81. The disclosure for this purchase can be found here. 10.17% of the stock is owned by insiders.
PENN has been the subject of several recent analyst reports. Union Gaming Research raised their price objective on shares of Penn National Gaming to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. BidaskClub upgraded shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 16th. TheStreet upgraded shares of Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Jefferies Group assumed coverage on shares of Penn National Gaming in a research report on Thursday, January 18th. They set a “buy” rating and a $39.00 price target for the company. Finally, Deutsche Bank reiterated a “buy” rating and set a $38.00 price target (up from $32.00) on shares of Penn National Gaming in a research report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Penn National Gaming has an average rating of “Buy” and a consensus price target of $30.60.
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Penn National Gaming 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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