Sterling Capital Management LLC Has $1.67 Million Stake in Penn National Gaming, Inc. (PENN)

Sterling Capital Management LLC lifted its stake in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 140.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,839 shares of the company’s stock after purchasing an additional 45,420 shares during the quarter. Sterling Capital Management LLC owned 0.09% of Penn National Gaming worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its position in Penn National Gaming by 1,461.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after buying an additional 4,677 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Penn National Gaming during the 1st quarter worth approximately $128,000. Oppenheimer Asset Management Inc. acquired a new stake in Penn National Gaming during the 1st quarter worth approximately $134,000. Oppenheimer & Co. Inc. acquired a new stake in Penn National Gaming during the 2nd quarter worth approximately $206,000. Finally, Royal Bank of Canada boosted its position in Penn National Gaming by 209.1% during the 2nd quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after buying an additional 6,692 shares during the period. 94.12% of the stock is currently owned by institutional investors.

Penn National Gaming, Inc. (NASDAQ:PENN) traded up 3.41% during mid-day trading on Friday, hitting $25.50. 1,844,531 shares of the stock traded hands. The firm’s 50-day moving average is $23.43 and its 200 day moving average is $21.08. The firm has a market cap of $2.32 billion, a P/E ratio of 32.04 and a beta of 0.97. Penn National Gaming, Inc. has a 52-week low of $11.93 and a 52-week high of $25.91.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.07). The firm had revenue of $796.50 million for the quarter, compared to the consensus estimate of $788.65 million. Penn National Gaming had a net margin of 26.16% and a negative return on equity of 12.89%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Equities analysts predict that Penn National Gaming, Inc. will post $0.61 EPS for the current fiscal year.

In other news, CEO Timothy J. Wilmott sold 5,400 shares of Penn National Gaming stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $23.02, for a total transaction of $124,308.00. Following the transaction, the chief executive officer now directly owns 460,600 shares of the company’s stock, valued at approximately $10,603,012. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Wilmott sold 4,900 shares of Penn National Gaming stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $23.02, for a total value of $112,798.00. Following the transaction, the chief executive officer now directly owns 460,600 shares in the company, valued at $10,603,012. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,813 shares of company stock valued at $9,924,682. Corporate insiders own 10.17% of the company’s stock.

Several research firms recently commented on PENN. Telsey Advisory Group downgraded shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a research report on Friday. Morgan Stanley boosted their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday. ValuEngine downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.91.

TRADEMARK VIOLATION NOTICE: “Sterling Capital Management LLC Has $1.67 Million Stake in Penn National Gaming, Inc. (PENN)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/28/penn-national-gaming-inc-penn-shares-bought-by-sterling-capital-management-llc.html.

Penn National Gaming Company 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.

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

Receive News & Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply