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

Penn National Gaming, Inc (NASDAQ:PENN)’s share price gapped up prior to trading 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.

A number of equities research analysts have commented on PENN shares. BidaskClub upgraded shares of Penn National Gaming from a “strong sell” rating to a “sell” rating in a research note on Friday, May 10th. Morgan Stanley upgraded shares of Penn National Gaming from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $27.00 in a research note on Thursday, May 9th. ValuEngine cut shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Bank of America upgraded shares of Penn National Gaming from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Nomura upgraded shares of Penn National Gaming from a “neutral” rating to a “buy” rating and set a $24.17 target price on the stock in a research note on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.60.

The company has a market capitalization of $2.38 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.38 and a beta of 1.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 5.65.

Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business posted $0.48 EPS. Penn National Gaming’s revenue was up 57.2% on a year-over-year basis. On average, equities analysts forecast that Penn National Gaming, Inc will post 1.47 earnings per share for the current year.

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

Several institutional investors have recently added to or reduced their stakes in PENN. Quantamental Technologies LLC bought a new stake in shares of Penn National Gaming during the fourth quarter valued at approximately $25,000. Rockefeller Capital Management L.P. bought a new stake in shares of Penn National Gaming during the first quarter valued at approximately $37,000. Fifth Third Bancorp raised its position in shares of Penn National Gaming by 53.6% during the first quarter. Fifth Third Bancorp now owns 1,934 shares of the company’s stock valued at $39,000 after buying an additional 675 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Penn National Gaming during the fourth quarter valued at approximately $42,000. Finally, Manchester Capital Management LLC bought a new stake in shares of Penn National Gaming during the first quarter valued at approximately $63,000. Hedge funds and other institutional investors 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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