Penn National Gaming, Inc. (NASDAQ:PENN) had its price target raised by stock analysts at Telsey Advisory Group from $23.00 to $26.00 in a note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 9.70% from the company’s current price.
PENN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Saturday, October 7th. Instinet reiterated a “neutral” rating and set a $21.00 price target (up from $19.00) on shares of Penn National Gaming in a research report on Monday, June 19th. Stifel Nicolaus reiterated a “buy” rating and set a $23.00 price target on shares of Penn National Gaming in a research report on Friday, July 14th. BidaskClub upgraded shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price target (up from $22.00) on shares of Penn National Gaming in a research report on Thursday, June 22nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.50.
Shares of Penn National Gaming (NASDAQ:PENN) opened at 23.70 on Thursday. The firm’s 50-day moving average is $22.60 and its 200-day moving average is $20.64. Penn National Gaming has a 12-month low of $11.93 and a 12-month high of $24.74. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 29.77 and a beta of 0.97.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The business had revenue of $796.50 million for the quarter, compared to the consensus estimate of $788.65 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Penn National Gaming will post $0.61 EPS for the current year.
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In related news, EVP Carl Sottosanti sold 20,000 shares of Penn National Gaming stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $22.00, for a total value of $440,000.00. Following the sale, the executive vice president now owns 45,831 shares in the company, valued at $1,008,282. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay A. Snowden sold 50,000 shares of Penn National Gaming stock in a transaction on Friday, August 25th. The shares were sold at an average price of $20.86, for a total transaction of $1,043,000.00. Following the completion of the sale, the insider now owns 86,281 shares in the company, valued at approximately $1,799,821.66. The disclosure for this sale can be found here. Insiders sold 282,755 shares of company stock worth $6,492,534 in the last 90 days. Company insiders own 10.17% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new stake in Penn National Gaming in the second quarter valued at $20,760,000. Piedmont Investment Advisors LLC bought a new stake in Penn National Gaming in the second quarter valued at $385,000. Sterling Capital Management LLC boosted its holdings in Penn National Gaming by 140.1% in the second quarter. Sterling Capital Management LLC now owns 77,839 shares of the company’s stock valued at $1,665,000 after acquiring an additional 45,420 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Penn National Gaming by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after acquiring an additional 482 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Penn National Gaming by 2.3% in the second quarter. California State Teachers Retirement System now owns 150,218 shares of the company’s stock valued at $3,215,000 after acquiring an additional 3,398 shares in the last quarter. Institutional investors and hedge funds own 95.31% of the company’s stock.
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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