Could Gaming and Leisure Properties Inc (GLPI) Change Direction After This Bullish Double Top Chart Pattern

September 17, 2017 - By Ellis Scott

Investors sentiment increased to 1.23 in 2016 Q4. Its up 0.12, from 1.11 in 2016Q3. It improved, as 36 investors sold Gaming and Leisure Properties Inc shares while 78 reduced holdings. 43 funds opened positions while 97 raised stakes. 181.76 million shares or 1.04% less from 183.68 million shares in 2016Q3 were reported.
Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Gaming and Leisure Properties Inc (NASDAQ:GLPI) for 12,201 shares. The Connecticut-based Paloma Prtnrs Mngmt has invested 0.01% in Gaming and Leisure Properties Inc (NASDAQ:GLPI). Vanguard Group holds 0.05% or 30.19 million shares in its portfolio. Employees Retirement Of Texas stated it has 0.06% of its portfolio in Gaming and Leisure Properties Inc (NASDAQ:GLPI). Blackrock Institutional Tru Na accumulated 7.17 million shares. Retail Bank Of America Corp De invested in 751,545 shares. Spot Trading Ltd Liability Company reported 0% of its portfolio in Gaming and Leisure Properties Inc (NASDAQ:GLPI). Moreover, Bamco has 2.16% invested in Gaming and Leisure Properties Inc (NASDAQ:GLPI). Schwab Charles Management Inc invested 0.02% of its portfolio in Gaming and Leisure Properties Inc (NASDAQ:GLPI). Us State Bank De accumulated 10,796 shares. Affinity Inv Advsrs Lc owns 109,410 shares for 0.32% of their portfolio. Savings Bank Of Montreal Can has invested 0% in Gaming and Leisure Properties Inc (NASDAQ:GLPI). 388,847 are held by California State Teachers Retirement Sys. Daiwa Inc owns 11,400 shares for 0% of their portfolio. Concannon Wealth Mngmt Limited holds 149 shares.

Since June 16, 2017, it had 1 insider buy, and 0 sales for $364,400 activity.

The chart of Gaming and Leisure Properties Inc (GLPI) shows a double top with $39.50 target or 5.00 % above today’s $37.62 share price. The 6 months chart pattern indicates low risk for the $7.99B company. It was reported on Sep, 17 by Finviz.com. If the $39.50 price target is reached, the company will be worth $399.50M more. Double tops are rare but powerful chart patterns.

The stock increased 0.08% or $0.03 on September 15, reaching $37.62. About 1.29M shares traded or 47.21% up from the average. Gaming and Leisure Properties Inc (NASDAQ:GLPI) has risen 10.92% since September 17, 2016 and is uptrending. It has underperformed by 5.78% the S&P500.

Analysts await Gaming and Leisure Properties Inc (NASDAQ:GLPI) to report earnings on November, 14. They expect $0.77 earnings per share, 0.00 % or $0.00 from last year’s $0.77 per share. GLPI’s profit will be $163.54 million for 12.21 P/E if the $0.77 EPS becomes a reality. After $0.78 actual earnings per share reported by Gaming and Leisure Properties Inc for the previous quarter, Wall Street now forecasts -1.28 % negative EPS growth.

Gaming and Leisure Properties Inc (NASDAQ:GLPI) Ratings Coverage

Among 10 analysts covering Gaming and Leisure Properties (NASDAQ:GLPI), 4 have Buy rating, 1 Sell and 5 Hold. Therefore 40% are positive. Gaming and Leisure Properties had 17 analyst reports since August 4, 2015 according to SRatingsIntel. The company was maintained on Wednesday, August 10 by Deutsche Bank. The firm earned “Mkt Outperform” rating on Tuesday, December 15 by JMP Securities. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Tuesday, December 13. The stock of Gaming and Leisure Properties Inc (NASDAQ:GLPI) has “Underperform” rating given on Thursday, December 15 by Bank of America. The rating was maintained by Deutsche Bank on Wednesday, December 7 with “Buy”. On Friday, April 8 the stock rating was initiated by SunTrust with “Neutral”. The firm has “Buy” rating by Ladenburg given on Friday, July 28. Deutsche Bank maintained it with “Buy” rating and $4100 target in Friday, July 28 report. UBS initiated it with “Neutral” rating and $35 target in Monday, September 26 report. The firm earned “Hold” rating on Thursday, July 27 by Stifel Nicolaus.

Another recent and important Gaming and Leisure Properties Inc (NASDAQ:GLPI) news was published by Globenewswire.com which published an article titled: “Gaming and Leisure Properties, Inc. Announces Second Quarter 2017 Results” on July 27, 2017.

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