State of Tennessee Treasury Department Has $1,658,000 Position in Penn National Gaming, Inc. (PENN)

State of Tennessee Treasury Department continued to hold its position in Penn National Gaming, Inc. (NASDAQ:PENN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,480 shares of the company’s stock at the close of the second quarter. State of Tennessee Treasury Department owned 0.09% of Penn National Gaming worth $1,658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of Penn National Gaming by 1,461.6% during the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after purchasing an additional 4,677 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Penn National Gaming during the first quarter worth $128,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Penn National Gaming during the first quarter worth $134,000. Van ECK Associates Corp lifted its position in shares of Penn National Gaming by 11.8% during the first quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock worth $194,000 after purchasing an additional 1,114 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Penn National Gaming during the first quarter worth $195,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on PENN. ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Deutsche Bank AG restated a “buy” rating and issued a $25.00 price target (up previously from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $23.00 price target on shares of Penn National Gaming in a research note on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Penn National Gaming presently has a consensus rating of “Buy” and a consensus price target of $21.00.

In other Penn National Gaming news, Director Jane Scaccetti acquired 4,675 shares of Penn National Gaming stock in a transaction dated Thursday, August 31st. The stock was bought at an average cost of $21.47 per share, with a total value of $100,372.25. Following the completion of the transaction, the director now owns 9,975 shares of the company’s stock, valued at $214,163.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay A. Snowden sold 50,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $20.86, for a total value of $1,043,000.00. Following the completion of the sale, the insider now directly owns 86,281 shares of the company’s stock, valued at $1,799,821.66. The disclosure for this sale can be found here. Insiders sold 80,300 shares of company stock valued at $1,720,106 over the last three months. 11.10% of the stock is owned by company insiders.

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Shares of Penn National Gaming, Inc. (NASDAQ:PENN) opened at 22.79 on Thursday. The company has a 50 day moving average of $21.46 and a 200-day moving average of $19.78. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 28.63 and a beta of 0.99. Penn National Gaming, Inc. has a 52 week low of $11.93 and a 52 week high of $23.08.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share for the quarter, missing the 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 business 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 company posted $0.37 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts expect that Penn National Gaming, Inc. will post $0.61 earnings per share for the current fiscal year.

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

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