Penn National Gaming (NASDAQ:PENN) Trading 5.3% Higher

Penn National Gaming, Inc (NASDAQ:PENN)’s share price traded up 5.3% during trading on Thursday . The company traded as high as $19.30 and last traded at $19.24. 1,248,232 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,948,263 shares. The stock had previously closed at $18.28.

A number of equities analysts have recently commented on the company. Wolfe Research assumed coverage on Penn National Gaming in a report on Friday, June 14th. They issued a “peer perform” rating for the company. BidaskClub cut Penn National Gaming from a “sell” rating to a “strong sell” rating in a report on Friday, June 7th. Bank of America upgraded Penn National Gaming from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. ValuEngine cut Penn National Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, Morgan Stanley upgraded Penn National Gaming from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $27.00 in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.60.

The stock’s fifty day simple moving average is $19.87. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 5.65. The firm has a market cap of $2.26 billion, a P/E ratio of 20.71, a PEG ratio of 1.35 and a beta of 1.86.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Penn National Gaming had a net margin of 2.20% and a return on equity of 13.24%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. Penn National Gaming’s revenue was up 57.2% compared to the same quarter last year. As a group, equities analysts predict that Penn National Gaming, Inc will post 1.43 EPS for the current fiscal year.

In other news, CFO William J. Fair bought 11,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $19.54 per share, with a total value of $214,940.00. Following the transaction, the chief financial officer now directly owns 46,998 shares in the company, valued at approximately $918,340.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay A. Snowden bought 10,875 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $19.51 per share, with a total value of $212,171.25. Following the completion of the transaction, the insider now owns 104,433 shares in the company, valued at $2,037,487.83. The disclosure for this purchase can be found here. 8.53% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its position in Penn National Gaming by 2.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 43,270 shares of the company’s stock valued at $870,000 after purchasing an additional 1,087 shares in the last quarter. Texas Permanent School Fund raised its position in Penn National Gaming by 2.0% during the 1st quarter. Texas Permanent School Fund now owns 72,193 shares of the company’s stock valued at $1,451,000 after purchasing an additional 1,415 shares in the last quarter. Advisor Group Inc. raised its position in Penn National Gaming by 29.2% during the 4th quarter. Advisor Group Inc. now owns 7,531 shares of the company’s stock valued at $143,000 after purchasing an additional 1,700 shares in the last quarter. Dupont Capital Management Corp raised its position in Penn National Gaming by 16.8% during the 1st quarter. Dupont Capital Management Corp now owns 12,507 shares of the company’s stock valued at $251,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Penn National Gaming by 13.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 19,947 shares of the company’s stock valued at $376,000 after purchasing an additional 2,304 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Penn National Gaming Company Profile (NASDAQ:PENN)

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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