TheStreet Upgrades Penn National Gaming, Inc. (PENN) to “B+”

Penn National Gaming, Inc. (NASDAQ:PENN) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b+” rating in a note issued to investors on Monday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Saturday, October 7th. Morgan Stanley increased their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. BidaskClub cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Telsey Advisory Group cut shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 price target for the company. in a research report on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.91.

Shares of Penn National Gaming (NASDAQ:PENN) opened at $27.16 on Monday. The firm has a market cap of $2,473.25, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 6.90 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. Penn National Gaming has a 12-month low of $12.77 and a 12-month high of $27.43.

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In related news, insider Jay A. Snowden sold 110,000 shares of Penn National Gaming stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $25.07, for a total transaction of $2,757,700.00. Following the completion of the transaction, the insider now directly owns 46,281 shares of the company’s stock, valued at approximately $1,160,264.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jay A. Snowden sold 50,000 shares of Penn National Gaming stock in a transaction dated 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 transaction, the insider now directly owns 86,281 shares of the company’s stock, valued at $1,799,821.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,813 shares of company stock valued at $9,924,682. 10.17% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GRT Capital Partners L.L.C. lifted its position in Penn National Gaming by 0.5% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 19,086 shares of the company’s stock valued at $408,000 after acquiring an additional 86 shares during the period. Amalgamated Bank lifted its position in Penn National Gaming by 3.8% during the 2nd quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock valued at $235,000 after acquiring an additional 405 shares during the period. Ameritas Investment Partners Inc. lifted its position in Penn National Gaming by 6.9% during the 2nd 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 during the period. Turner Investments LLC increased its stake in Penn National Gaming by 6.3% during the 2nd quarter. Turner Investments LLC now owns 17,000 shares of the company’s stock valued at $364,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Penn National Gaming by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 436,175 shares of the company’s stock valued at $9,334,000 after purchasing an additional 1,587 shares in the last quarter. 93.77% of the stock is owned by institutional investors.

About Penn National Gaming

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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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