Shares of Penn National Gaming Inc. (NASDAQ:PENN) saw unusually-strong trading volume on Thursday . Approximately 1,045,729 shares traded hands during trading, a decline of 17% from the previous session’s volume of 1,267,089 shares.The stock last traded at $13.69 and had previously closed at $13.83.

A number of research analysts have recently issued reports on PENN shares. Macquarie upgraded shares of Penn National Gaming from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Thursday, June 30th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $18.00 price target on shares of Penn National Gaming in a research report on Thursday, May 26th. JPMorgan Chase & Co. boosted their price target on shares of Penn National Gaming from $21.00 to $22.00 in a research report on Tuesday, March 29th. Deutsche Bank AG restated a “buy” rating on shares of Penn National Gaming in a research report on Sunday, June 26th. Finally, Morgan Stanley upgraded shares of Penn National Gaming from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $15.00 to $16.00 in a research report on Wednesday, June 1st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.54.

The firm has a 50-day moving average of $14.60 and a 200-day moving average of $15.02. The firm has a market cap of $1.12 billion and a PE ratio of 55.08.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The company earned $756.50 million during the quarter, compared to analysts’ expectations of $755.27 million. Analysts forecast that Penn National Gaming Inc. will post $0.92 EPS for the current year.

Other institutional investors recently bought and sold shares of the company. Rhumbline Advisers raised its position in Penn National Gaming by 2.2% in the fourth quarter. Rhumbline Advisers now owns 112,512 shares of the company’s stock valued at $1,802,000 after buying an additional 2,475 shares in the last quarter. Nationwide Fund Advisors raised its position in Penn National Gaming by 161.8% in the fourth quarter. Nationwide Fund Advisors now owns 135,577 shares of the company’s stock valued at $2,172,000 after buying an additional 83,799 shares in the last quarter. California State Teachers Retirement System raised its position in Penn National Gaming by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 147,892 shares of the company’s stock valued at $2,369,000 after buying an additional 2,324 shares in the last quarter. Marshall Wace LLP raised its position in Penn National Gaming by 1,279.7% in the fourth quarter. Marshall Wace LLP now owns 160,875 shares of the company’s stock valued at $2,577,000 after buying an additional 149,215 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Penn National Gaming by 6.0% in the fourth quarter. Bank of Montreal Can now owns 181,004 shares of the company’s stock valued at $2,900,000 after buying an additional 10,209 shares in the last quarter.

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’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.

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