Trading Report: The Emerald Acquisition Ltd. Invests $1,145,000 in Penn National Gaming Inc. (PENN)

The Emerald Acquisition Ltd. Invests $1,145,000 in Penn National Gaming Inc. (PENN)

Emerald Acquisition Ltd. bought a new position in shares of Penn National Gaming Inc. (NASDAQ:PENN) during the second quarter, Holdings Channel reports. The fund bought 82,046 shares of the company’s stock, valued at approximately $1,145,000. Emerald Acquisition Ltd. owned about 0.10% of Penn National Gaming as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PENN. RS Investment Management Co. LLC increased its position in Penn National Gaming by 4,053.7% in the second quarter. RS Investment Management Co. LLC now owns 1,663,114 shares of the company’s stock worth $23,200,000 after buying an additional 1,623,075 shares during the period. Renaissance Technologies LLC increased its position in Penn National Gaming by 34.8% in the first quarter. Renaissance Technologies LLC now owns 1,946,100 shares of the company’s stock worth $32,480,000 after buying an additional 502,000 shares during the period. Hanlon Investment Management Inc. increased its position in Penn National Gaming by 136.4% in the first quarter. Hanlon Investment Management Inc. now owns 537,244 shares of the company’s stock worth $8,967,000 after buying an additional 310,000 shares during the period. Emerald Advisers Inc. PA increased its position in Penn National Gaming by 19.6% in the second quarter. Emerald Advisers Inc. PA now owns 1,463,743 shares of the company’s stock worth $20,419,000 after buying an additional 240,370 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its position in Penn National Gaming by 19.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 811,806 shares of the company’s stock worth $11,325,000 after buying an additional 134,590 shares during the period. 99.52% of the stock is owned by institutional investors.

Penn National Gaming Inc. (NASDAQ:PENN) traded up 2.57% during mid-day trading on Friday, hitting $14.35. The stock had a trading volume of 1,459,449 shares. The firm has a market cap of $1.19 billion, a PE ratio of 24.36 and a beta of 0.88. The company’s 50 day moving average price is $13.82 and its 200 day moving average price is $14.86. Penn National Gaming Inc. has a 52 week low of $12.50 and a 52 week high of $19.05.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.29 by $0.09. Penn National Gaming had a negative return on equity of 8.21% and a net margin of 1.79%. The business earned $769.40 million during the quarter, compared to the consensus estimate of $785.06 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Penn National Gaming Inc. will post $1.07 earnings per share for the current year.

PENN has been the subject of a number of analyst reports. Zacks Investment Research downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Friday. Union Gaming Research raised Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Tuesday. Macquarie raised Penn National Gaming from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Thursday, June 30th. Telsey Advisory Group lowered their target price on Penn National Gaming from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, July 29th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Penn National Gaming in a research note on Sunday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Penn National Gaming has a consensus rating of “Buy” and an average target price of $18.86.

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’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.

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