Aperio Group LLC increased its holdings in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,309 shares of the company’s stock after acquiring an additional 6,529 shares during the period. Aperio Group LLC’s holdings in Penn National Gaming were worth $5,039,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Gamco Investors INC. ET AL acquired a new position in Penn National Gaming during the third quarter worth $357,000. Principal Financial Group Inc. grew its holdings in Penn National Gaming by 7.2% during the third quarter. Principal Financial Group Inc. now owns 434,237 shares of the company’s stock worth $31,569,000 after acquiring an additional 29,021 shares during the period. Parkside Financial Bank & Trust acquired a new position in Penn National Gaming during the third quarter worth $36,000. HighPoint Advisor Group LLC grew its holdings in Penn National Gaming by 6.5% in the third quarter. HighPoint Advisor Group LLC now owns 7,212 shares of the company’s stock valued at $472,000 after purchasing an additional 440 shares during the last quarter. Finally, Hayden Royal LLC acquired a new stake in Penn National Gaming in the third quarter valued at $290,000. 87.81% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. BidaskClub lowered Penn National Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 28th. The Goldman Sachs Group upped their target price on Penn National Gaming from $60.00 to $66.00 and gave the company a “buy” rating in a report on Monday, September 14th. Craig Hallum upped their target price on Penn National Gaming from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Stifel Nicolaus upped their target price on Penn National Gaming from $47.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 17th. Finally, Truist upped their target price on Penn National Gaming from $50.00 to $62.00 in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Penn National Gaming has an average rating of “Hold” and an average target price of $64.58.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.45. Penn National Gaming had a negative return on equity of 15.63% and a negative net margin of 21.16%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. Equities analysts predict that Penn National Gaming, Inc. will post -0.36 EPS for the current year.
In other news, EVP Carl Sottosanti sold 63,940 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $60.23, for a total value of $3,851,106.20. Following the transaction, the executive vice president now directly owns 115,256 shares in the company, valued at approximately $6,941,868.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Christine Labombard sold 13,400 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $66.36, for a total value of $889,224.00. Following the completion of the transaction, the chief accounting officer now owns 19,052 shares in the company, valued at $1,264,290.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,340 shares of company stock worth $6,131,330. Company insiders own 1.81% of the company’s stock.
About Penn National Gaming
Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.
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