Engineers Gate Manager LP Takes $1.95 Million Position in Penn National Gaming (PENN)

Engineers Gate Manager LP purchased a new stake in Penn National Gaming (NASDAQ:PENN) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 74,187 shares of the company’s stock, valued at approximately $1,948,000. Engineers Gate Manager LP owned about 0.08% of Penn National Gaming at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PENN. LS Investment Advisors LLC purchased a new stake in Penn National Gaming during the fourth quarter valued at about $127,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Penn National Gaming during the fourth quarter valued at about $212,000. Shelton Capital Management purchased a new stake in Penn National Gaming during the fourth quarter valued at about $231,000. PHH Investments Ltd. purchased a new stake in Penn National Gaming during the fourth quarter valued at about $235,000. Finally, Mackay Shields LLC purchased a new stake in Penn National Gaming during the first quarter valued at about $247,000. 99.10% of the stock is owned by institutional investors.

In related news, CEO Timothy J. Wilmott sold 102,528 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $30.41, for a total value of $3,117,876.48. Following the transaction, the chief executive officer now owns 615,395 shares in the company, valued at $18,714,161.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jay A. Snowden acquired 10,560 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $25.98 per share, for a total transaction of $274,348.80. Following the acquisition, the insider now directly owns 72,567 shares of the company’s stock, valued at approximately $1,885,290.66. The disclosure for this purchase can be found here. Corporate insiders own 10.56% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Penn National Gaming from a “sell” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Wednesday, May 2nd. Deutsche Bank reissued a “buy” rating and issued a $37.00 price target on shares of Penn National Gaming in a research report on Sunday, April 29th. ValuEngine raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. Telsey Advisory Group assumed coverage on shares of Penn National Gaming in a research report on Tuesday, March 13th. They issued an “outperform” rating and a $33.00 price target for the company. Finally, TheStreet lowered shares of Penn National Gaming from a “b-” rating to a “c” rating in a research report on Wednesday, March 21st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $33.00.

Penn National Gaming opened at $35.45 on Friday, according to MarketBeat. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of -138.00. The company has a market capitalization of $3.15 billion, a PE ratio of 38.55 and a beta of 1.41. Penn National Gaming has a 52-week low of $33.98 and a 52-week high of $34.30.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. Penn National Gaming had a negative return on equity of 92.84% and a net margin of 17.04%. The firm had revenue of $816.10 million for the quarter, compared to the consensus estimate of $805.70 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. sell-side analysts predict that Penn National Gaming will post 1.55 EPS for the current fiscal year.

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 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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