abrdn plc lowered its stake in Penn National Gaming, Inc. (NASDAQ:PENN – Get Rating) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,350 shares of the company’s stock after selling 5,945 shares during the quarter. abrdn plc’s holdings in Penn National Gaming were worth $1,194,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in PENN. Bessemer Group Inc. acquired a new stake in Penn National Gaming during the 4th quarter worth $26,000. National Asset Management Inc. raised its stake in Penn National Gaming by 29.8% during the 4th quarter. National Asset Management Inc. now owns 11,673 shares of the company’s stock worth $508,000 after buying an additional 2,679 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Penn National Gaming during the 4th quarter worth $767,000. State of New Jersey Common Pension Fund D raised its stake in Penn National Gaming by 9.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 100,402 shares of the company’s stock worth $5,206,000 after buying an additional 8,256 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its stake in Penn National Gaming by 24.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,374 shares of the company’s stock worth $227,000 after buying an additional 863 shares during the period. Institutional investors and hedge funds own 81.28% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on PENN shares. Morgan Stanley raised Penn National Gaming from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $55.00 to $51.00 in a research note on Monday, April 25th. Barclays started coverage on Penn National Gaming in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $37.00 price target on the stock. JMP Securities started coverage on Penn National Gaming in a research note on Tuesday, June 28th. They issued an “outperform” rating and a $52.00 price target on the stock. Truist Financial dropped their price target on Penn National Gaming from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company dropped their price target on Penn National Gaming from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Penn National Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.
Penn National Gaming Trading Up 4.7 %
Penn National Gaming (NASDAQ:PENN – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.16). Penn National Gaming had a return on equity of 10.91% and a net margin of 6.16%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 22.7% on a year-over-year basis. Analysts expect that Penn National Gaming, Inc. will post 1.69 earnings per share for the current year.
Penn National Gaming Company Profile
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.
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