Par Capital Management Inc. purchased a new stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 75,000 shares of the company’s stock, valued at approximately $1,445,000. Par Capital Management Inc. owned 0.06% of Penn National Gaming as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Petrus Trust Company LTA lifted its holdings in Penn National Gaming by 9.1% in the 2nd quarter. Petrus Trust Company LTA now owns 19,926 shares of the company’s stock worth $384,000 after purchasing an additional 1,661 shares in the last quarter. Balyasny Asset Management LLC raised its holdings in shares of Penn National Gaming by 667.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,117,741 shares of the company’s stock worth $21,528,000 after acquiring an additional 972,104 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Penn National Gaming by 1.1% during the 2nd quarter. Invesco Ltd. now owns 5,441,731 shares of the company’s stock worth $104,808,000 after acquiring an additional 58,895 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Penn National Gaming during the 2nd quarter worth approximately $335,000. Finally, Earnest Partners LLC raised its holdings in shares of Penn National Gaming by 26.8% during the 2nd quarter. Earnest Partners LLC now owns 415,329 shares of the company’s stock worth $7,999,000 after acquiring an additional 87,680 shares in the last quarter. 99.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director David A. Handler bought 30,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $17.68 per share, for a total transaction of $530,400.00. Following the acquisition, the director now owns 169,870 shares of the company’s stock, valued at $3,003,301.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Saul Reibstein bought 3,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $17.30 per share, with a total value of $51,900.00. The disclosure for this purchase can be found here. 8.53% of the stock is currently owned by corporate insiders.
Penn National Gaming stock traded down $0.52 during mid-day trading on Wednesday, hitting $19.92. The company’s stock had a trading volume of 40,677 shares, compared to its average volume of 1,444,339. The company has a 50 day moving average of $18.92 and a 200-day moving average of $20.05. The stock has a market cap of $2.37 billion, a PE ratio of 21.46, a P/E/G ratio of 1.35 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. Penn National Gaming, Inc has a one year low of $16.72 and a one year high of $34.72.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.10. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. Penn National Gaming’s quarterly revenue was up 60.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. On average, equities research analysts forecast that Penn National Gaming, Inc will post 1.55 EPS for the current fiscal year.
Penn National Gaming 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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