Penn National Gaming (NASDAQ:PENN) Now Covered by Analysts at Wolfe Research

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.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The company’s quarterly revenue was up 57.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, equities research analysts predict that Penn National Gaming will post 1.43 earnings per share for the current fiscal year.

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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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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