Barclays PLC Increases Penn National Gaming, Inc. (PENN) Price Target to $30.00

Penn National Gaming, Inc. (NASDAQ:PENN) had its price objective upped by Barclays PLC from $23.00 to $30.00 in a report released on Monday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s target price suggests a potential upside of 7.80% from the stock’s current price.

Several other brokerages have also issued reports on PENN. ValuEngine lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Telsey Advisory Group lowered shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 27th. BidaskClub raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b+” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Penn National Gaming presently has an average rating of “Hold” and a consensus price target of $22.55.

Shares of Penn National Gaming (NASDAQ:PENN) opened at $27.83 on Monday. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $2,540.00, a PE ratio of 36.73, a price-to-earnings-growth ratio of 6.90 and a beta of 1.32. Penn National Gaming has a 1 year low of $12.77 and a 1 year high of $28.04.

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In related news, CEO Timothy J. Wilmott sold 5,400 shares of Penn National Gaming stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $23.02, for a total transaction of $124,308.00. Following the transaction, the chief executive officer now owns 460,600 shares of the company’s stock, valued at approximately $10,603,012. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jay A. Snowden sold 50,000 shares of Penn National Gaming stock in a transaction that occurred on Friday, August 25th. The stock was 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 in the company, valued at approximately $1,799,821.66. The disclosure for this sale can be found here. Insiders have sold a total of 420,813 shares of company stock worth $9,924,682 in the last three months. 10.17% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System lifted its stake in Penn National Gaming by 14.0% in the third quarter. California Public Employees Retirement System now owns 211,180 shares of the company’s stock valued at $4,940,000 after buying an additional 25,980 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Penn National Gaming by 51.9% in the third quarter. Janney Montgomery Scott LLC now owns 16,720 shares of the company’s stock valued at $391,000 after buying an additional 5,714 shares in the last quarter. Bamco Inc. NY lifted its stake in Penn National Gaming by 0.6% in the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock valued at $129,155,000 after buying an additional 35,400 shares in the last quarter. Earnest Partners LLC bought a new position in Penn National Gaming in the third quarter valued at approximately $36,544,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Penn National Gaming in the third quarter valued at approximately $4,965,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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