Nomura Holdings Inc. purchased a new position in Penn National Gaming Inc. (NASDAQ:PENN) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,100 shares of the company’s stock, valued at approximately $142,000.
Several other hedge funds also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new stake in shares of Penn National Gaming during the first quarter worth approximately $100,000. BNP Paribas Arbitrage SA boosted its stake in shares of Penn National Gaming by 169.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,743 shares of the company’s stock worth $108,000 after buying an additional 4,866 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Penn National Gaming by 12.6% in the second quarter. Teacher Retirement System of Texas now owns 9,998 shares of the company’s stock worth $139,000 after buying an additional 1,119 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Penn National Gaming during the second quarter worth approximately $147,000. Finally, Quantbot Technologies LP bought a new stake in shares of Penn National Gaming during the second quarter worth approximately $165,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Penn National Gaming Inc. (NASDAQ:PENN) opened at 13.57 on Monday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 23.04 and a beta of 0.88. Penn National Gaming Inc. has a 1-year low of $12.50 and a 1-year high of $19.05. The stock has a 50 day moving average price of $13.95 and a 200 day moving average price of $14.89.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.09. The company had revenue of $769.40 million for the quarter, compared to analyst estimates of $785.06 million. Penn National Gaming had a net margin of 1.79% and a negative return on equity of 8.21%. Penn National Gaming’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Equities research analysts anticipate that Penn National Gaming Inc. will post $1.01 EPS for the current year.
A number of analysts have recently commented on the company. Zacks Investment Research cut Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Telsey Advisory Group lowered their price objective on Penn National Gaming from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Penn National Gaming in a research report on Sunday, June 26th. Finally, Macquarie raised Penn National Gaming from a “neutral” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.86.
About Penn National Gaming
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’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.
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