Commerce Bank Acquires Shares of 9,344 Penn National Gaming, Inc. (NASDAQ:PENN)

Commerce Bank acquired a new stake in Penn National Gaming, Inc. (NASDAQ:PENN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,344 shares of the company’s stock, valued at approximately $677,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Penn National Gaming by 6.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,987,117 shares of the company’s stock valued at $151,994,000 after buying an additional 128,169 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Penn National Gaming by 39.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,424,679 shares of the company’s stock valued at $108,974,000 after buying an additional 405,801 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Penn National Gaming during the second quarter valued at about $54,685,000. Dimensional Fund Advisors LP increased its position in shares of Penn National Gaming by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 711,542 shares of the company’s stock valued at $54,425,000 after buying an additional 2,917 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Penn National Gaming by 592.5% during the second quarter. Thrivent Financial for Lutherans now owns 706,946 shares of the company’s stock worth $54,074,000 after acquiring an additional 604,863 shares in the last quarter. Hedge funds and other institutional investors own 78.52% of the company’s stock.

PENN has been the topic of several research reports. Berenberg Bank initiated coverage on shares of Penn National Gaming in a research note on Tuesday, October 19th. They set a “buy” rating and a $95.00 price objective on the stock.
The Goldman Sachs Group dropped their price objective on shares of Penn National Gaming from $128.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 27th. Credit Suisse Group dropped their price objective on shares of Penn National Gaming from $136.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Penn National Gaming from $31.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, November 29th. Finally, Truist dropped their target price on shares of Penn National Gaming from $95.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Penn National Gaming currently has an average rating of “Buy” and an average target price of $93.50.

Shares of Penn National Gaming stock opened at $44.45 on Friday. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 19.24 and a beta of 2.49. The company’s 50 day moving average is $50.87 and its 200 day moving average is $65.78. Penn National Gaming, Inc. has a twelve month low of $43.36 and a twelve month high of $142.00. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 2.21.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, November 4th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.32). Penn National Gaming had a net margin of 7.22% and a return on equity of 13.64%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. Sell-side analysts expect that Penn National Gaming, Inc. will post 2.64 EPS for the current fiscal year.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, and Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

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

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