Legal & General Group Plc Raises Holdings in Penn National Gaming, Inc (PENN)

Legal & General Group Plc raised its position in Penn National Gaming, Inc (NASDAQ:PENN) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,975 shares of the company’s stock after buying an additional 5,528 shares during the quarter. Legal & General Group Plc owned about 0.18% of Penn National Gaming worth $3,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PENN. Aperio Group LLC bought a new stake in shares of Penn National Gaming in the second quarter valued at $220,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Penn National Gaming in the second quarter valued at $418,000. Schwab Charles Investment Management Inc. raised its stake in shares of Penn National Gaming by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 602,673 shares of the company’s stock valued at $12,898,000 after buying an additional 26,416 shares during the period. First Trust Advisors LP raised its stake in shares of Penn National Gaming by 72.0% in the second quarter. First Trust Advisors LP now owns 132,454 shares of the company’s stock valued at $2,835,000 after buying an additional 55,466 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Penn National Gaming by 10.7% in the second quarter. Rhumbline Advisers now owns 169,387 shares of the company’s stock valued at $3,625,000 after buying an additional 16,419 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Several analysts have issued reports on the company. BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 16th. Union Gaming Research boosted their target price on Penn National Gaming to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $33.00 target price on shares of Penn National Gaming in a research note on Monday. Deutsche Bank boosted their target price on Penn National Gaming from $29.00 to $32.00 in a research note on Monday. Finally, TheStreet upgraded Penn National Gaming from a “c+” rating to a “b+” rating in a research note on Monday, November 13th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.00.

Shares of Penn National Gaming, Inc (NASDAQ:PENN) opened at $31.34 on Friday. 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 one year low of $13.00 and a one year high of $31.42. The stock has a market capitalization of $2,678.21, a price-to-earnings ratio of 39.73, a P/E/G ratio of 7.35 and a beta of 1.04.

In other Penn National Gaming news, insider Jay A. Snowden sold 110,000 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $25.07, for a total value of $2,757,700.00. Following the transaction, the insider now directly owns 46,281 shares in the company, valued at approximately $1,160,264.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Wilmott sold 23,419 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $23.27, for a total value of $544,960.13. Following the completion of the transaction, the chief executive officer now owns 479,119 shares in the company, valued at $11,149,099.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,113 shares of company stock worth $8,195,376. 10.17% of the stock is currently owned by corporate insiders.

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About Penn National Gaming

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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