Penn National Gaming (NASDAQ:PENN) Rating Increased to Sell at BidaskClub

Penn National Gaming (NASDAQ:PENN) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday, June 13th, BidAskClub reports.

Several other research analysts also recently commented on the company. Bank of America raised Penn National Gaming from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley set a $25.00 price objective on Penn National Gaming and gave the company a “hold” rating in a research note on Thursday, February 14th. Finally, ValuEngine downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $32.60.

PENN stock traded up $0.13 during midday trading on Thursday, reaching $19.64. The company had a trading volume of 556,300 shares, compared to its average volume of 1,304,645. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $2.30 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.38 and a beta of 1.77. Penn National Gaming has a 1-year low of $17.30 and a 1-year high of $36.90. The company’s 50 day simple moving average is $19.74.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The firm’s revenue was up 57.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. Research analysts anticipate that Penn National Gaming will post 1.43 EPS for the current year.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. lifted its holdings in shares of Penn National Gaming by 15.7% in the 4th quarter. Prudential Financial Inc. now owns 540,635 shares of the company’s stock worth $10,180,000 after purchasing an additional 73,544 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Penn National Gaming by 61.3% in the 4th quarter. Rhumbline Advisers now owns 332,661 shares of the company’s stock worth $6,264,000 after purchasing an additional 126,394 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Penn National Gaming by 15,516.0% in the 4th quarter. Hsbc Holdings PLC now owns 1,011,760 shares of the company’s stock worth $19,052,000 after purchasing an additional 1,005,281 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Penn National Gaming by 31.7% in the 4th quarter. Geode Capital Management LLC now owns 1,302,174 shares of the company’s stock worth $24,519,000 after purchasing an additional 313,346 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Penn National Gaming by 35.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,938,278 shares of the company’s stock worth $36,498,000 after purchasing an additional 503,510 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Penn National Gaming Company Profile

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.

Further Reading: Fundamental Analysis and Individual Investors

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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