New high roller at the table, Penn buys Pinnacle for $2.8B

Thursday, 21 Dec, 2017

Penn National Gaming, Inc.'s beta is 1.38 whilst the stock has an average true range (ATR) of 0.90. The stock increased 5.10% or $1.5 during the last trading session, reaching $30.9. Oppenheimer & Co. Inc. bought a new stake in Penn National Gaming in the second quarter worth $206,000. (NASDAQ:PENN) has risen 33.06% since December 20, 2016 and is uptrending. It has outperformed by 2.75% the S&P500.

Bluemar Capital Management Llc increased Penn Natl Gaming Inc (PENN) stake by 46.78% reported in 2017Q2 SEC filing. The company has market cap of $2.81 billion. (NASDAQ:PENN). Arizona State Retirement Systems owns 43,100 shares or 0.01% of their U.S. portfolio. After the latest session, which saw the stock close at a price of $29.40, PENN sits below its 52-week high. Given that its average daily volume over the 30 days has been 1.10M shares a day, this signifies a pretty significant change over the norm. HDFC Bank Limited (NYSE:HDB) has risen 36.23% since December 19, 2016 and is uptrending. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Finally, Meeder Asset Management Inc. lifted its position in Penn National Gaming by 82.8% in the third quarter. (NASDAQ:PENN). Teachers Retirement Systems Of The State Of Kentucky stated it has 26,000 shares. Telsey Advisory Group has "Outperform" rating and $21 target. Their activity in PENN in recent trading has also spurred interest in the stock. (NASDAQ:PENN) continues to be a formidable company. The rating was downgraded by Telsey Advisory Group to "Market Perform" on Friday, October 27. Stifel Nicolaus maintained it with "Buy" rating and $28.0 target in Thursday, October 26 report. The firm has "Outperform" rating given on Friday, July 29 by Telsey Advisory Group. (NASDAQ:PENN) rating on Tuesday, January 19. Stifel Nicolaus maintained the shares of PENN in report on Thursday, July 27 with "Buy" rating. As per Friday, February 10, the company rating was initiated by SunTrust. Also, insider Jay A. Snowden sold 110,000 shares of the stock in a transaction that occurred on Thursday, October 19th. Another trade for 20,000 shares valued at $440,000 was sold by Sottosanti Carl. 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.

For the current quarter, 9 analysts are projecting a mean EPS of $0.18/share. PENN's profit will be $16.34M for 40.32 P/E if the $0.18 EPS becomes a reality.

The twelve casinos in Pennsylvania reportedly recorded a 1.57% increase year-on-year in aggregated gross gaming revenues for November to just over $253.56 million with Montgomery County's Valley Forge Casino Resort leading this swell courtesy of a 12.4% boost to nearly $9.55 million. Its up 0.09, from 1.26 in 2017Q1. (PENN) shares are up 6.55% for the week and that has got investors and traders sitting up and taking note. 39 funds opened positions while 64 raised stakes. (NASDAQ:PENN) or 13,903 shares. Penn National Gaming, Inc. Massachusetts-based Arrowstreet Limited Partnership has invested 0.04% in Penn National Gaming, Inc.

With few merger opportunities left and companies already squeezing every cent they can from their businesses, I don't think this is going to be a booming area for investors going forward, despite Penn National's buyout of Pinnacle Entertainment. Gamco Invsts Et Al, New York-based fund reported 20,000 shares. Finally, First Trust Advisors LP boosted its holdings in Penn National Gaming by 72.0% during the 2nd quarter. Point72 Asia (Hong Kong) Ltd reported 1,086 shares.

More notable recent Penn National Gaming, Inc. Piedmont Inv Advisors Ltd Liability stated it has 0.01% in Penn National Gaming, Inc. Therefore 22% are positive. The stock has "Neutral" rating by JP Morgan on Thursday, January 5. The stock of Bank of America Corporation (NYSE:BAC) has "Buy" rating given on Sunday, August 13 by Keefe Bruyette & Woods. The rating was downgraded by UBS to "Sell" on Friday, May 27. The rating was upgraded by Macquarie Research to "Hold" on Tuesday, September 1. It was reported on Dec, 20 by Barchart.com.