Quantamental Technologies LLC acquired a new stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,975 shares of the company’s stock, valued at approximately $57,000.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Penn National Gaming by 30.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,384 shares of the company’s stock valued at $20,456,000 after acquiring an additional 252,915 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Penn National Gaming by 31.7% during the 4th quarter. Geode Capital Management LLC now owns 1,302,174 shares of the company’s stock worth $24,519,000 after purchasing an additional 313,346 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Penn National Gaming by 1,131.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,158 shares of the company’s stock worth $465,000 after purchasing an additional 21,278 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Penn National Gaming by 1.9% during the 1st quarter. Rhumbline Advisers now owns 338,823 shares of the company’s stock worth $6,810,000 after purchasing an additional 6,162 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Penn National Gaming by 2.0% during the 1st quarter. Texas Permanent School Fund now owns 72,193 shares of the company’s stock worth $1,451,000 after purchasing an additional 1,415 shares in the last quarter. Institutional investors and hedge funds own 99.44% of the company’s stock.

A number of brokerages have recently issued reports on PENN. Morgan Stanley set a $27.00 price objective on Penn National Gaming and gave the stock a “buy” rating in a research note on Friday, August 2nd. Susquehanna Bancshares initiated coverage on Penn National Gaming in a report on Wednesday, July 24th. They set a “positive” rating and a $25.00 target price on the stock. Union Gaming Research raised Penn National Gaming from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on Penn National Gaming in a report on Friday, June 14th. They set a “peer perform” rating on the stock. Finally, BidaskClub raised Penn National Gaming from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $30.02.

In related news, Director Saul Reibstein bought 3,000 shares of Penn National Gaming stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $17.30 per share, with a total value of $51,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Handler bought 30,000 shares of Penn National Gaming stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $17.68 per share, for a total transaction of $530,400.00. Following the completion of the acquisition, the director now owns 169,870 shares in the company, valued at approximately $3,003,301.60. The disclosure for this purchase can be found here. Corporate insiders own 8.53% of the company’s stock.

NASDAQ PENN traded up $0.56 on Friday, reaching $21.13. The stock had a trading volume of 492,172 shares, compared to its average volume of 1,399,023. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a fifty day moving average of $18.76 and a two-hundred day moving average of $20.15. Penn National Gaming, Inc has a 1-year low of $16.72 and a 1-year high of $34.72. The company has a market cap of $2.34 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.31 and a beta of 1.72.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. The company’s revenue for the quarter was up 60.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Research analysts predict 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.

Further Reading: What does the Producer Price Index (PPI) tell investors?

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

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