Analysts at Wolfe Research initiated coverage on shares of Penn National Gaming (NASDAQ:PENN) in a report released on Friday, The Fly reports. The firm set a “peer perform” rating on the stock.
Other equities research analysts also recently issued research reports about the company. Bank of America raised Penn National Gaming from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. BidaskClub cut Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Morgan Stanley set a $25.00 target price on Penn National Gaming and gave the stock a “hold” rating in a research note on Thursday, February 14th. Finally, ValuEngine cut Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.60.
Shares of Penn National Gaming stock traded down $0.21 on Friday, hitting $19.77. The stock had a trading volume of 13,743 shares, compared to its average volume of 2,279,798. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.39 and a beta of 1.86. Penn National Gaming has a twelve month low of $17.30 and a twelve month high of $36.90. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 5.65.
In related news, CFO William J. Fair acquired 11,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $19.54 per share, for a total transaction of $214,940.00. Following the completion of the acquisition, the chief financial officer now directly owns 46,998 shares of the company’s stock, valued at approximately $918,340.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jay A. Snowden acquired 10,875 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $19.51 per share, with a total value of $212,171.25. Following the completion of the acquisition, the insider now directly owns 104,433 shares of the company’s stock, valued at $2,037,487.83. The disclosure for this purchase can be found here. Corporate insiders own 10.56% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. Prudential Financial Inc. grew its holdings in Penn National Gaming by 15.7% during the 4th quarter. Prudential Financial Inc. now owns 540,635 shares of the company’s stock worth $10,180,000 after acquiring an additional 73,544 shares during the period. Rhumbline Advisers grew its holdings in Penn National Gaming by 61.3% during the 4th quarter. Rhumbline Advisers now owns 332,661 shares of the company’s stock worth $6,264,000 after acquiring an additional 126,394 shares during the period. Hsbc Holdings PLC grew its holdings in Penn National Gaming by 15,516.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,011,760 shares of the company’s stock worth $19,052,000 after acquiring an additional 1,005,281 shares during the period. Geode Capital Management LLC grew its holdings in Penn National Gaming by 31.7% during the 4th quarter. Geode Capital Management LLC now owns 1,302,174 shares of the company’s stock worth $24,519,000 after acquiring an additional 313,346 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Penn National Gaming by 35.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,938,278 shares of the company’s stock worth $36,498,000 after acquiring an additional 503,510 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.
Penn National Gaming Company Profile
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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