Clark Street Value sold its position in Gaming & Leisure Properties Inc. (NASDAQ:GLPI) stock. Clark Street Value is an individual investor that is focused on finding value and special situation investments. Gaming & Leisure Properties Inc. (NASDAQ:GLPI) owns and leases casinos and other entertainment facilities. In the last one year, Gaming & Leisure Properties Inc. (NASDAQ:GLPI) stock lost 5.4% and on January 5th it had a closing price of $41.06.
Clark Street Value said that GLPI’s primary tenant is Penn National Gaming Inc (NASDAQ:PENN). Clark Street Value added, “PENN’s stock as 20x since the bottom and presumably has unlimited access to capital right now thanks to Barstool Sports and the online sports gambling theme.” The investor also said that Gaming & Leisure Properties Inc. (NASDAQ:GLPI) could reinstate a cash dividend and the stock could surge to mid-to-high $40s.
In Q3 2020, the number of bullish hedge fund positions on Gaming & Leisure Properties Inc. (NASDAQ:GLPI) stock decreased by about 14% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in GLPI’s growth potential. Our calculations showed that Gaming & Leisure Properties Inc. (NASDAQ:GLPI) isn’t ranked among the 30 most popular stocks among hedge funds.
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Video: Top 5 Stocks Among Hedge Funds
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