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.
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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