Penn National Gaming, Inc (PENN) Given Consensus Rating of “Buy” by Analysts
Penn National Gaming, Inc (NASDAQ:PENN) has been assigned an average recommendation of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.82.
PENN has been the subject of several analyst reports. Deutsche Bank raised their price target on Penn National Gaming from $29.00 to $32.00 in a report on Monday, December 18th. TheStreet raised Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Union Gaming Research increased their price objective on Penn National Gaming to $35.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price objective on shares of Penn National Gaming in a research report on Monday, December 18th. Finally, Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Saturday, October 7th.
In other Penn National Gaming news, insider Jay A. Snowden sold 110,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $25.07, for a total value of $2,757,700.00. Following the transaction, the insider now directly owns 46,281 shares of the company’s stock, valued at $1,160,264.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Wilmott sold 94,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $23.16, for a total value of $2,181,672.00. Following the completion of the transaction, the chief executive officer now directly owns 479,119 shares in the company, valued at $11,096,396.04. The disclosure for this sale can be found here. Insiders have sold 340,113 shares of company stock worth $8,195,376 over the last ninety days. 10.17% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in PENN. Aperio Group LLC purchased a new position in Penn National Gaming in the second quarter worth about $220,000. Schwab Charles Investment Management Inc. boosted its position in Penn National Gaming by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 602,673 shares of the company’s stock worth $12,898,000 after purchasing an additional 26,416 shares during the last quarter. First Trust Advisors LP boosted its position in Penn National Gaming by 72.0% in the second quarter. First Trust Advisors LP now owns 132,454 shares of the company’s stock worth $2,835,000 after purchasing an additional 55,466 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Penn National Gaming by 10.7% during the 2nd quarter. Rhumbline Advisers now owns 169,387 shares of the company’s stock valued at $3,625,000 after buying an additional 16,419 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Penn National Gaming by 35.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,393,714 shares of the company’s stock valued at $51,225,000 after buying an additional 622,482 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Penn National Gaming (NASDAQ PENN) traded down $0.82 during trading hours on Monday, hitting $30.52. The stock had a trading volume of 918,300 shares, compared to its average volume of 1,291,213. Penn National Gaming has a 1 year low of $13.00 and a 1 year high of $31.42. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $2,710.00, a P/E ratio of 3.50, a PEG ratio of 7.96 and a beta of 1.38.
Penn National Gaming Company Profile
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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