Telsey Advisory Group downgraded shares of Penn National Gaming, Inc. (NASDAQ:PENN) from an outperform rating to a market perform rating in a report released on Friday, October 27th, Marketbeat reports. Telsey Advisory Group currently has $26.00 target price on the stock.
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Penn National Gaming from a sell rating to a hold rating in a report on Saturday, August 12th. Zacks Investment Research lowered shares of Penn National Gaming from a buy rating to a hold rating in a research report on Wednesday, August 2nd. ValuEngine lowered shares of Penn National Gaming from a buy rating to a hold rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a buy rating and set a $23.00 target price on shares of Penn National Gaming in a research report on Friday, July 14th. Finally, Morgan Stanley lifted their target price on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an equal weight rating in a research report on Tuesday, October 24th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $21.91.
Shares of Penn National Gaming (NASDAQ PENN) traded down $0.21 during trading hours on Friday, hitting $26.88. 1,034,000 shares of the company’s stock were exchanged, compared to its average volume of 1,276,129. The firm has a market cap of $2,448.65, a price-to-earnings ratio of 36.32, a P/E/G ratio of 6.83 and a beta of 0.97. Penn National Gaming has a 52 week low of $12.77 and a 52 week high of $27.27. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 18.36.
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In related news, insider Jay A. Snowden sold 110,000 shares of Penn National Gaming stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $25.07, for a total transaction of $2,757,700.00. Following the sale, the insider now directly owns 46,281 shares in the company, valued at approximately $1,160,264.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Wilmott sold 84,436 shares of Penn National Gaming stock in a transaction on Friday, October 6th. The shares were sold at an average price of $24.12, for a total transaction of $2,036,596.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 420,813 shares of company stock worth $9,924,682. 10.17% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. Meeder Asset Management Inc. boosted its holdings in shares of Penn National Gaming by 1,461.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after buying an additional 4,677 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Penn National Gaming in the 1st quarter worth about $134,000. Ameritas Investment Partners Inc. raised its stake in Penn National Gaming by 6.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after acquiring an additional 482 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Penn National Gaming in the 2nd quarter valued at about $206,000. Finally, Royal Bank of Canada raised its stake in Penn National Gaming by 209.1% in the 2nd quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock valued at $212,000 after acquiring an additional 6,692 shares during the period. 93.77% of the stock is owned by institutional investors and hedge funds.
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.
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