Penn National Gaming (PENN) Shares Gap Up to $21.40

Shares of Penn National Gaming, Inc (NASDAQ:PENN) gapped up before the market opened on Friday . The stock had previously closed at $22.00, but opened at $21.40. Penn National Gaming shares last traded at $21.32, with a volume of 65963 shares traded.

A number of analysts have weighed in on PENN shares. BidaskClub downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Morgan Stanley set a $25.00 price target on Penn National Gaming and gave the stock a “hold” rating in a report on Thursday, February 14th. Bank of America upgraded Penn National Gaming from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. Finally, ValuEngine downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $32.60.

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 5.65. The company has a market cap of $2.51 billion, a P/E ratio of 22.80, a PEG ratio of 1.46 and a beta of 1.85.

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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Penn National Gaming had a net margin of 2.20% and a return on equity of 13.24%. The business’s quarterly revenue was up 57.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, equities research analysts forecast that Penn National Gaming, Inc will post 1.47 EPS for the current year.

In other news, insider Jay A. Snowden bought 10,875 shares of Penn National Gaming stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $19.51 per share, for a total transaction of $212,171.25. Following the purchase, the insider now directly owns 104,433 shares in the company, valued at approximately $2,037,487.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William J. Fair bought 11,000 shares of Penn National Gaming stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $19.54 per share, with a total value of $214,940.00. Following the completion of the purchase, the chief financial officer now owns 46,998 shares in the company, valued at $918,340.92. The disclosure for this purchase can be found here. Company insiders own 10.56% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new position in Penn National Gaming during the 4th quarter valued at about $25,000. Rockefeller Capital Management L.P. acquired a new position in Penn National Gaming during the 1st quarter valued at about $37,000. Fifth Third Bancorp boosted its stake in Penn National Gaming by 53.6% during the 1st quarter. Fifth Third Bancorp now owns 1,934 shares of the company’s stock valued at $39,000 after purchasing an additional 675 shares during the last quarter. Manchester Capital Management LLC acquired a new position in Penn National Gaming during the 1st quarter valued at about $63,000. Finally, Advisors Asset Management Inc. boosted its stake in Penn National Gaming by 9.7% during the 4th quarter. Advisors Asset Management Inc. now owns 4,714 shares of the company’s stock valued at $89,000 after purchasing an additional 417 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

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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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