Texas Permanent School Fund bought a new position in shares of Penn National Gaming, Inc. (NASDAQ:PENN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 60,331 shares of the company’s stock, valued at approximately $1,291,000.

Several other hedge funds also recently added to or reduced their stakes in PENN. Meeder Asset Management Inc. increased its stake in Penn National Gaming by 1,461.6% in the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after buying an additional 4,677 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Penn National Gaming during the first quarter worth $128,000. Oppenheimer Asset Management Inc. bought a new stake in Penn National Gaming during the first quarter worth $134,000. State of Alaska Department of Revenue bought a new stake in Penn National Gaming during the first quarter worth $168,000. Finally, Van ECK Associates Corp increased its stake in Penn National Gaming by 11.8% in the first quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock worth $194,000 after buying an additional 1,114 shares during the last quarter. Hedge funds and other institutional investors own 93.36% of the company’s stock.

Penn National Gaming, Inc. (PENN) opened at 20.83 on Friday. Penn National Gaming, Inc. has a 12-month low of $11.93 and a 12-month high of $22.19. The stock’s 50 day moving average price is $20.81 and its 200-day moving average price is $18.49. The firm has a market cap of $1.90 billion, a PE ratio of 26.17 and a beta of 1.01.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.07. The business had revenue of $796.50 million for the quarter, compared to the consensus estimate of $788.65 million. Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. Penn National Gaming’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. Equities research analysts anticipate that Penn National Gaming, Inc. will post $0.61 earnings per share for the current fiscal year.

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A number of analysts have recently weighed in on the company. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 target price (up from $22.00) on shares of Penn National Gaming in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and set a $23.00 target price on shares of Penn National Gaming in a research report on Friday, July 14th. BidaskClub downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Telsey Advisory Group upped their target price on Penn National Gaming from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.00.

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.

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

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