Investors Buy Penn National Gaming (PENN) on Weakness

Traders bought shares of Penn National Gaming, Inc (NASDAQ:PENN) on weakness during trading on Monday. $33.42 million flowed into the stock on the tick-up and $22.12 million flowed out of the stock on the tick-down, for a money net flow of $11.30 million into the stock. Of all stocks tracked, Penn National Gaming had the 24th highest net in-flow for the day. Penn National Gaming traded down ($0.66) for the day and closed at $29.03

Several analysts have recently issued reports on PENN shares. Telsey Advisory Group upped their price target on Penn National Gaming from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday. TheStreet upgraded Penn National Gaming from a “c+” rating to a “b+” rating in a research note on Monday, November 13th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Saturday, October 7th. Finally, Barclays upped their price target on Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Penn National Gaming has a consensus rating of “Buy” and an average target price of $24.09.

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 $2,704.64, a PE ratio of 40.12, a price-to-earnings-growth ratio of 7.54 and a beta of 1.04.

In related news, insider Jay A. Snowden sold 110,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was 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 owns 46,281 shares of the company’s stock, valued at approximately $1,160,264.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Wilmott sold 1,661 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $24.01, for a total value of $39,880.61. The disclosure for this sale can be found here. Insiders have sold a total of 345,913 shares of company stock valued at $8,328,884 in the last three months. 10.17% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PENN. HAP Trading LLC raised its holdings in Penn National Gaming by 42.0% in the 2nd quarter. HAP Trading LLC now owns 249,386 shares of the company’s stock valued at $5,337,000 after acquiring an additional 73,752 shares in the last quarter. Voya Investment Management LLC raised its holdings in Penn National Gaming by 15.9% in the 2nd quarter. Voya Investment Management LLC now owns 39,066 shares of the company’s stock valued at $836,000 after acquiring an additional 5,354 shares in the last quarter. Strs Ohio acquired a new position in Penn National Gaming in the 3rd quarter valued at approximately $3,508,000. State Street Corp raised its holdings in Penn National Gaming by 8.6% in the 2nd quarter. State Street Corp now owns 1,971,391 shares of the company’s stock valued at $42,183,000 after acquiring an additional 156,455 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Penn National Gaming by 2.6% in the 3rd quarter. Rhumbline Advisers now owns 173,787 shares of the company’s stock valued at $4,065,000 after acquiring an additional 4,400 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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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.

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