Penn National Gaming, Inc. (NASDAQ:PENN) CEO Timothy J. Wilmott sold 84,436 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $24.12, for a total value of $2,036,596.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Penn National Gaming, Inc. (NASDAQ:PENN) traded down 0.51% during midday trading on Tuesday, reaching $23.55. The company had a trading volume of 473,890 shares. The company has a market capitalization of $2.14 billion, a P/E ratio of 29.59 and a beta of 0.97. Penn National Gaming, Inc. has a 12 month low of $11.93 and a 12 month high of $24.74. The firm’s 50 day moving average price is $22.43 and its 200-day moving average price is $20.58.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, July 27th. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.07). The firm had revenue of $796.50 million during the quarter, compared to analyst estimates of $788.65 million. Penn National Gaming had a negative return on equity of 16.72% and a net margin of 2.39%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Analysts anticipate that Penn National Gaming, Inc. will post $0.61 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on the company. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price objective (up from $22.00) on shares of Penn National Gaming in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and set a $23.00 price objective on shares of Penn National Gaming in a research report on Friday, July 14th. BidaskClub downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Telsey Advisory Group boosted their price objective on Penn National Gaming from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.30.
A number of institutional investors and hedge funds have recently bought and sold shares of PENN. First Trust Advisors LP acquired a new stake in Penn National Gaming in the first quarter worth $1,419,000. BNP Paribas Arbitrage SA raised its holdings in Penn National Gaming by 288.7% in the first quarter. BNP Paribas Arbitrage SA now owns 18,224 shares of the company’s stock worth $336,000 after purchasing an additional 13,536 shares during the period. Comerica Bank acquired a new stake in Penn National Gaming in the first quarter worth $1,464,000. Ameriprise Financial Inc. acquired a new stake in Penn National Gaming in the first quarter worth $8,010,000. Finally, Parametric Portfolio Associates LLC raised its holdings in Penn National Gaming by 12.3% in the first quarter. Parametric Portfolio Associates LLC now owns 217,624 shares of the company’s stock worth $4,011,000 after purchasing an additional 23,836 shares during the period. Institutional investors own 95.31% of the company’s stock.
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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