Penn National Gaming Inc. (PENN) Sees Unusually-High Trading Volume
Penn National Gaming Inc. (NASDAQ:PENN) shares saw unusually-strong trading volume on Monday . Approximately 1,547,701 shares changed hands during trading, an increase of 17% from the previous session’s volume of 1,322,708 shares.The stock last traded at $14.37 and had previously closed at $13.92.
A number of equities research analysts recently commented on PENN shares. JPMorgan Chase & Co. lifted their target price on Penn National Gaming from $21.00 to $22.00 in a report on Tuesday, March 29th. Macquarie raised Penn National Gaming from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Thursday, June 30th. Deutsche Bank AG reissued a “buy” rating and issued a $22.00 price target on shares of Penn National Gaming in a report on Thursday, April 14th. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Saturday, April 23rd. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $18.00 price target on shares of Penn National Gaming in a report on Thursday, May 26th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Penn National Gaming currently has an average rating of “Buy” and an average price target of $19.23.
The firm has a market capitalization of $1.17 billion and a price-to-earnings ratio of 57.32. The firm has a 50-day moving average of $14.20 and a 200 day moving average of $14.86.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $756.50 million for the quarter, compared to analyst estimates of $755.27 million. On average, analysts anticipate that Penn National Gaming Inc. will post $0.92 earnings per share for the current year.
Several large investors recently made changes to their positions in PENN. J. Goldman & Co LP bought a new stake in shares of Penn National Gaming during the fourth quarter worth approximately $3,581,000. Victory Capital Management Inc. raised its stake in Penn National Gaming by 15.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,402,653 shares of the company’s stock worth $22,470,000 after buying an additional 189,468 shares during the last quarter. Marshall Wace LLP raised its stake 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 worth $2,577,000 after buying an additional 149,215 shares during the last quarter. Fiduciary Management Associates LLC raised its stake in Penn National Gaming by 6.7% in the fourth quarter. Fiduciary Management Associates LLC now owns 1,433,955 shares of the company’s stock worth $22,972,000 after buying an additional 89,720 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Penn National Gaming by 161.8% in the fourth quarter. Nationwide Fund Advisors now owns 135,577 shares of the company’s stock worth $2,172,000 after buying an additional 83,799 shares during 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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