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Transaction Details

Company: Penn National Gaming
Ticker:PENN
Yahoo Beta:2.31
Industry:Resorts & casinos

Company Description:  Penn National Gaming owns racing and gaming facilities.

Purchase Date:16 Apr 2020 Sale Date:22 Sep 2021
Purchase Price:$13.05 Sale Price:$73.50
  --Split Adjusted:$13.05  --Split Adjusted:$73.50
Shares Purchased:150 Shares Sold:150
  --Split Adjusted:150  --Split Adjusted:150
Transaction Fee:$0.00 Transaction Fee:$0.08
Price Range (6 Months Prior):    Price Range (6 Months After):    
High$38.28 High$0.00
Date13 Feb 2020 Date01 Jan 1996
Low$4.52 Low$0.00
Date18 Mar 2020 Date01 Jan 1996
S&P (Purchase Date):$2,786.47 S&P (Sale Date):$4,400.36

Purchase
Timing:  We bought well below the six month high.
Reason:  Most of Penn National Gaming's historical business has focused on slot machines and lower tier gambling. The company recently acquired Barstool Sports, a sports media company, which PEN hopes will provide an entree into the nascent sports betting market. The Supreme Court made a ruling legalizing sports gambling and Penn National hopes to offer betting to Barstool's customers.

Sale
Timing:  x
Reason:  We have made substantial gains since we purchased the stock. Part of our initial investment thesis centered on gains from the acquisition of Barstool Sports. Those gains have lagged our expectations. The company has a significant debt burden which is potentially concerning.

S&P Gain: 57.92 % Annualized Gain: 40.25%
Stock Gain: 463.22 % Annualized Gain: 259.56%

Dividends:$0.00
Net Holding Return ($): $9,067.42
Net Holding Return (%): 463.21 %