Penn National Gaming (NASDAQ:PENN) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Penn National Gaming (NASDAQ:PENN) from a strong-buy rating to a buy rating in a research report released on Friday, January 5th.

A number of other brokerages also recently weighed in on PENN. Stifel Nicolaus restated a buy rating and set a $33.00 price objective on shares of Penn National Gaming in a research report on Monday, December 18th. Deutsche Bank increased their price target on shares of Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. Union Gaming Research increased their price target on shares of Penn National Gaming to $35.00 and gave the stock a buy rating in a research report on Wednesday, December 20th. Barclays increased their price target on shares of Penn National Gaming from $23.00 to $30.00 and gave the stock an overweight rating in a research report on Monday, November 20th. Finally, TheStreet upgraded shares of Penn National Gaming from a c+ rating to a b+ rating in a research report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $26.55.

Penn National Gaming (NASDAQ:PENN) traded down $0.11 during trading hours on Friday, hitting $32.11. 558,300 shares of the stock were exchanged, compared to its average volume of 838,056. Penn National Gaming has a 1 year low of $13.00 and a 1 year high of $32.35. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. The stock has a market capitalization of $2,990.00, a PE ratio of 3.68 and a beta of 1.38.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.05. Penn National Gaming had a net margin of 26.16% and a negative return on equity of 20.51%. sell-side analysts forecast that Penn National Gaming will post 0.71 EPS for the current year.

In related news, insider Jay A. Snowden sold 110,000 shares of Penn National Gaming stock in a transaction dated 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 completion of the transaction, the insider now directly owns 46,281 shares of the company’s stock, valued at approximately $1,160,264.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Wilmott sold 13,903 shares of Penn National Gaming stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $24.05, for a total transaction of $334,367.15. Following the sale, the chief executive officer now owns 456,100 shares of the company’s stock, valued at approximately $10,969,205. The disclosure for this sale can be found here. Company insiders own 10.17% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PENN. Ameritas Investment Partners Inc. raised its holdings in shares of 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 purchasing an additional 482 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Penn National Gaming in the 2nd quarter valued at about $206,000. Royal Bank of Canada raised its holdings in shares of 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 purchasing an additional 6,692 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Penn National Gaming by 82.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock valued at $214,000 after purchasing an additional 4,138 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Penn National Gaming by 3.8% in the 2nd quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock worth $235,000 after buying an additional 405 shares during the last quarter. Institutional investors own 97.53% of the company’s stock.

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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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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