South Dakota Investment Council Grows Holdings in Penn National Gaming, Inc. (NASDAQ:PENN)

South Dakota Investment Council increased its position in Penn National Gaming, Inc. (NASDAQ:PENNGet Rating) by 100.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,580 shares of the company’s stock after acquiring an additional 15,800 shares during the quarter. South Dakota Investment Council’s holdings in Penn National Gaming were worth $1,637,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its stake in Penn National Gaming by 350.9% in the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the company’s stock worth $26,000 after purchasing an additional 19,455 shares during the period. Bessemer Group Inc. bought a new position in Penn National Gaming in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its stake in Penn National Gaming by 428.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 386 shares of the company’s stock worth $28,000 after purchasing an additional 313 shares during the period. Manchester Capital Management LLC bought a new position in Penn National Gaming in the 3rd quarter worth approximately $28,000. Finally, Daiwa Securities Group Inc. boosted its stake in Penn National Gaming by 25.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,543 shares of the company’s stock worth $80,000 after purchasing an additional 315 shares during the period. 79.40% of the stock is owned by institutional investors.

PENN has been the subject of several recent analyst reports. Susquehanna upgraded Penn National Gaming from a “neutral” rating to a “positive” rating and upped their price target for the stock from $34.00 to $65.00 in a research note on Wednesday, February 9th. Susquehanna Bancshares upgraded Penn National Gaming from a “neutral” rating to a “positive” rating and increased their target price for the company from $34.00 to $65.00 in a research report on Wednesday, February 9th. Morgan Stanley upgraded Penn National Gaming from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $55.00 to $51.00 in a research report on Monday, April 25th. Wells Fargo & Company lowered their target price on Penn National Gaming from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 13th. Finally, Needham & Company LLC lowered their target price on Penn National Gaming from $115.00 to $76.00 in a research report on Friday, January 21st. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $67.68.

PENN stock traded down $1.31 during midday trading on Friday, reaching $36.57. The company’s stock had a trading volume of 3,878,954 shares, compared to its average volume of 3,489,969. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a fifty day simple moving average of $42.11 and a two-hundred day simple moving average of $49.75. Penn National Gaming, Inc. has a 1 year low of $35.60 and a 1 year high of $93.02. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 14.63 and a beta of 2.40.

Penn National Gaming (NASDAQ:PENNGet Rating) last released its earnings results on Thursday, February 3rd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.20). Penn National Gaming had a return on equity of 13.17% and a net margin of 7.13%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the business earned $0.07 EPS. The business’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, analysts forecast that Penn National Gaming, Inc. will post 1.95 EPS for the current fiscal year.

Penn National Gaming declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 3rd that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

In other news, Director Jane Scaccetti purchased 1,975 shares of the business’s stock in a transaction dated Thursday, February 17th. The shares were purchased at an average price of $49.70 per share, for a total transaction of $98,157.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.81% of the company’s stock.

About Penn National Gaming (Get Rating)

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through five segments: Northeast, South, West, Midwest, Interactive. The company offers casino gaming, online gaming, live racing, sports betting, and digital sports content.

Further Reading

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

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