Oxford Asset Management reduced its stake in shares of Penn National Gaming, Inc. (NASDAQ:PENN) by 83.1% during the first quarter, Holdings Channel reports. The fund owned 22,090 shares of the company’s stock after selling 108,569 shares during the period. Oxford Asset Management’s holdings in Penn National Gaming were worth $407,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Penn National Gaming during the fourth quarter valued at about $7,042,000. State Street Corp increased its position in Penn National Gaming by 3.8% in the fourth quarter. State Street Corp now owns 1,363,512 shares of the company’s stock valued at $18,800,000 after buying an additional 49,617 shares during the last quarter. Van ECK Associates Corp increased its position in Penn National Gaming by 9.2% in the fourth quarter. Van ECK Associates Corp now owns 9,429 shares of the company’s stock valued at $130,000 after buying an additional 795 shares during the last quarter. Federated Investors Inc. PA increased its position in Penn National Gaming by 3.4% in the fourth quarter. Federated Investors Inc. PA now owns 439,320 shares of the company’s stock valued at $6,059,000 after buying an additional 14,242 shares during the last quarter. Finally, Allianz Asset Management AG increased its position in Penn National Gaming by 39.4% in the fourth quarter. Allianz Asset Management AG now owns 54,675 shares of the company’s stock valued at $754,000 after buying an additional 15,451 shares during the last quarter. 94.55% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Penn National Gaming, Inc. (PENN) opened at 21.43 on Friday. The stock’s 50 day moving average is $19.68 and its 200 day moving average is $16.35. Penn National Gaming, Inc. has a 52-week low of $11.93 and a 52-week high of $22.19. The firm has a market capitalization of $1.95 billion, a PE ratio of 21.69 and a beta of 0.99.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. Penn National Gaming had a net margin of 2.97% and a negative return on equity of 19.08%. The firm had revenue of $776.20 million for the quarter, compared to the consensus estimate of $769.81 million. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Penn National Gaming, Inc. will post $0.63 EPS for the current year.

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Several equities analysts have recently issued reports on PENN shares. Barclays PLC raised their price target on shares of Penn National Gaming from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, March 27th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Thursday, April 6th. FBR & Co reaffirmed an “outperform” rating and set a $23.00 price target (up previously from $20.00) on shares of Penn National Gaming in a research note on Monday, April 10th. Stifel Nicolaus raised their price target on shares of Penn National Gaming from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, May 16th. Finally, BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $19.50.

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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