BNP Paribas Arbitrage SA Boosts Holdings in Penn National Gaming, Inc. (PENN)

BNP Paribas Arbitrage SA grew its holdings in Penn National Gaming, Inc. (NASDAQ:PENN) by 67.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,140 shares of the company’s stock after acquiring an additional 22,648 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of Penn National Gaming worth $1,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. GRT Capital Partners L.L.C. lifted its position in shares of Penn National Gaming by 0.5% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 19,086 shares of the company’s stock worth $408,000 after purchasing an additional 86 shares during the last quarter. Amalgamated Bank lifted its position in shares of Penn National Gaming by 3.8% during the 2nd quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock worth $235,000 after purchasing an additional 405 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Penn National Gaming by 6.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock worth $159,000 after purchasing an additional 482 shares during the last quarter. Turner Investments LLC lifted its position in shares of Penn National Gaming by 6.3% during the 2nd quarter. Turner Investments LLC now owns 17,000 shares of the company’s stock worth $364,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Penn National Gaming by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 436,175 shares of the company’s stock worth $9,334,000 after purchasing an additional 1,587 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Carl Sottosanti sold 20,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $22.00, for a total value 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 filing with the SEC, which is available through this hyperlink. Also, insider Jay A. Snowden sold 110,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $25.07, for a total transaction of $2,757,700.00. Following the completion of 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. Over the last three months, insiders sold 370,813 shares of company stock valued at $8,881,682. 10.17% of the stock is owned by corporate insiders.

PENN has been the subject of several recent analyst reports. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Saturday, October 7th. Morgan Stanley lifted their price objective on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BidaskClub raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $22.55.

Shares of Penn National Gaming, Inc. (NASDAQ PENN) opened at $27.88 on Wednesday. Penn National Gaming, Inc. has a 1 year low of $12.77 and a 1 year high of $28.31. The firm has a market cap of $2,550.00, a price-to-earnings ratio of 37.16, a P/E/G ratio of 6.98 and a beta of 1.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 18.36.

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Penn National Gaming Company Profile

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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