Harel Insurance Investments & Financial Services Ltd. Invests $93,000 in Penn National Gaming, Inc (NASDAQ:PENN)

Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Penn National Gaming, Inc (NASDAQ:PENN) in the third quarter, HoldingsChannel reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $93,000.

Several other hedge funds have also modified their holdings of the company. Bamco Inc. NY raised its stake in shares of Penn National Gaming by 2.8% during the 2nd quarter. Bamco Inc. NY now owns 8,551,553 shares of the company’s stock worth $164,703,000 after buying an additional 234,458 shares in the last quarter. Invesco Ltd. raised its stake in shares of Penn National Gaming by 1.1% during the 2nd quarter. Invesco Ltd. now owns 5,441,731 shares of the company’s stock worth $104,808,000 after buying an additional 58,895 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Penn National Gaming by 7,627.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,025,319 shares of the company’s stock worth $96,787,000 after buying an additional 4,960,284 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Penn National Gaming by 0.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,323,130 shares of the company’s stock worth $61,893,000 after buying an additional 11,556 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Penn National Gaming by 9.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,022,322 shares of the company’s stock worth $38,950,000 after buying an additional 181,077 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. Union Gaming Research raised Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Susquehanna Bancshares initiated coverage on Penn National Gaming in a research note on Wednesday, July 24th. They set a “positive” rating and a $25.00 target price for the company. Morgan Stanley set a $27.00 price target on Penn National Gaming and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group cut Penn National Gaming from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $23.00 in a report on Friday, November 1st. Finally, Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Penn National Gaming currently has a consensus rating of “Buy” and an average target price of $24.70.

Shares of PENN traded up $0.06 on Thursday, reaching $22.03. The stock had a trading volume of 10,491 shares, compared to its average volume of 1,892,205. The firm has a market capitalization of $2.60 billion, a PE ratio of 23.66, a PEG ratio of 1.47 and a beta of 1.71. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 5.75. The firm has a 50-day moving average of $20.22 and a 200 day moving average of $19.62. Penn National Gaming, Inc has a twelve month low of $16.72 and a twelve month high of $26.45.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. Penn National Gaming had a return on equity of 5.88% and a net margin of 1.85%. The business’s revenue was up 71.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, sell-side analysts anticipate that Penn National Gaming, Inc will post 1.52 earnings per share for the current fiscal year.

About Penn National Gaming

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.

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

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