Hennessy Advisors Inc. bought a new position in Penn National Gaming, Inc (NASDAQ:PENN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,128,200 shares of the company’s stock, valued at approximately $35,347,000. Penn National Gaming makes up approximately 1.1% of Hennessy Advisors Inc.’s portfolio, making the stock its 26th biggest holding. Hennessy Advisors Inc. owned 1.24% of Penn National Gaming at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PENN. FMR LLC boosted its holdings in Penn National Gaming by 689.3% in the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock worth $109,840,000 after acquiring an additional 4,482,402 shares in the last quarter. Earnest Partners LLC bought a new stake in Penn National Gaming in the third quarter worth $36,544,000. Lord Abbett & CO. LLC bought a new stake in Penn National Gaming in the second quarter worth $20,760,000. Renaissance Technologies LLC boosted its holdings in Penn National Gaming by 384.9% in the second quarter. Renaissance Technologies LLC now owns 929,500 shares of the company’s stock worth $19,891,000 after acquiring an additional 737,800 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Penn National Gaming by 155.9% in the third quarter. Wells Fargo & Company MN now owns 839,146 shares of the company’s stock worth $19,627,000 after acquiring an additional 511,183 shares in the last quarter. 97.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Penn National Gaming, Inc (NASDAQ:PENN) traded up $0.11 during trading hours on Tuesday, hitting $33.01. The stock had a trading volume of 927,600 shares, compared to its average volume of 949,400. The company has a market capitalization of $2,999.25, a P/E ratio of 3.79 and a beta of 1.04. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. Penn National Gaming, Inc has a 1 year low of $13.35 and a 1 year high of $33.30.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, October 26th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Penn National Gaming had a negative return on equity of 20.51% and a net margin of 26.16%. sell-side analysts expect that Penn National Gaming, Inc will post 0.71 EPS for the current year.
PENN has been the topic of a number of research analyst reports. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price target on shares of Penn National Gaming in a report on Monday, December 18th. Union Gaming Research upped their price target on Penn National Gaming to $35.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Deutsche Bank upped their price target on Penn National Gaming from $29.00 to $32.00 in a report on Monday, December 18th. Finally, Jefferies Group initiated coverage on Penn National Gaming in a report on Thursday, January 18th. They set a “buy” rating and a $39.00 price target on the stock. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.08.
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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.
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