Penn National Gaming, Inc. (PENN) Holdings Decreased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. decreased its stake in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 26.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,000 shares of the company’s stock after selling 17,400 shares during the quarter. Adams Diversified Equity Fund Inc. owned about 0.05% of Penn National Gaming worth $1,123,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Penn National Gaming by 138,953.6% during the 1st quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after purchasing an additional 8,891,641 shares during the last quarter. HAP Trading LLC increased its position in shares of Penn National Gaming by 42.0% during the 2nd quarter. HAP Trading LLC now owns 249,386 shares of the company’s stock worth $5,337,000 after purchasing an additional 73,752 shares during the last quarter. Peregrine Capital Management LLC increased its position in shares of Penn National Gaming by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 793,030 shares of the company’s stock worth $16,971,000 after purchasing an additional 15,863 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Penn National Gaming by 24.7% during the 1st quarter. Geode Capital Management LLC now owns 724,113 shares of the company’s stock worth $13,345,000 after purchasing an additional 143,514 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Penn National Gaming by 78.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 16,312 shares of the company’s stock worth $349,000 after purchasing an additional 7,162 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Carl Sottosanti sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $22.00, for a total transaction of $440,000.00. Following the completion of the sale, the executive vice president now directly owns 45,831 shares of the company’s stock, valued at $1,008,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay A. Snowden sold 110,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 have sold 420,813 shares of company stock valued at $9,924,682 over the last ninety days. 10.17% of the stock is currently owned by company insiders.

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Shares of Penn National Gaming, Inc. (PENN) traded up 0.19% on Wednesday, hitting $26.14. The stock had a trading volume of 264,534 shares. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 32.84 and a beta of 0.97. Penn National Gaming, Inc. has a 52 week low of $11.93 and a 52 week high of $26.78. The company has a 50-day moving average of $23.74 and a 200 day moving average of $21.28.

Several research analysts have weighed in on PENN shares. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 price target on shares of Penn National Gaming in a research report on Friday, July 14th. BidaskClub lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Telsey Advisory Group boosted their price target on Penn National Gaming from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Finally, ValuEngine lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.91.

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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