SG Americas Securities LLC Grows Stake in Penn National Gaming, Inc (PENN)

SG Americas Securities LLC grew its position in Penn National Gaming, Inc (NASDAQ:PENN) by 242.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,658 shares of the company’s stock after acquiring an additional 16,746 shares during the quarter. SG Americas Securities LLC’s holdings in Penn National Gaming were worth $553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PENN. FMR LLC lifted its position in shares of Penn National Gaming by 689.3% in the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock valued at $109,840,000 after acquiring an additional 4,482,402 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Penn National Gaming during the second quarter worth $20,760,000. Renaissance Technologies LLC increased its stake in Penn National Gaming by 384.9% during 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 during the last quarter. Bank of New York Mellon Corp increased its stake in Penn National Gaming by 35.1% during the second quarter. Bank of New York Mellon Corp now owns 2,393,714 shares of the company’s stock worth $51,225,000 after acquiring an additional 622,482 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Penn National Gaming by 331.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 551,890 shares of the company’s stock worth $11,810,000 after acquiring an additional 424,090 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Several equities research analysts have issued reports on the company. Telsey Advisory Group raised their target price on Penn National Gaming from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. Zacks Investment Research cut Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays raised their target price on Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Morgan Stanley raised their target price on Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Finally, TheStreet raised Penn National Gaming from a “c+” rating to a “b+” rating in a research note on Monday, November 13th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Penn National Gaming presently has a consensus rating of “Hold” and a consensus target price of $22.55.

In related news, CEO Timothy J. Wilmott sold 1,661 shares of Penn National Gaming stock in a transaction on Friday, October 13th. The stock was sold at an average price of $24.01, for a total value of $39,880.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay A. Snowden sold 110,000 shares of Penn National Gaming stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $25.07, for a total value of $2,757,700.00. Following the completion of the transaction, the insider now owns 46,281 shares of the company’s stock, valued at $1,160,264.67. The disclosure for this sale can be found here. Insiders sold 350,813 shares of company stock valued at $8,441,682 over the last ninety days. Insiders own 10.17% of the company’s stock.

Shares of Penn National Gaming, Inc (NASDAQ PENN) opened at $28.53 on Monday. Penn National Gaming, Inc has a one year low of $13.00 and a one year high of $29.84. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 18.36. The firm has a market capitalization of $2,598.96, a price-to-earnings ratio of 38.55, a PEG ratio of 7.25 and a beta of 1.04.

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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.

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

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