Penn National Gaming Inc. (PENN) Sees Large Volume Increase
Penn National Gaming Inc. (NASDAQ:PENN) shares 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 commented on PENN shares. Deutsche Bank AG restated a “buy” rating and set a $22.00 price objective on shares of Penn National Gaming in a research note on Thursday, March 17th. JPMorgan Chase & Co. boosted their price objective on Penn National Gaming from $21.00 to $22.00 in a research note on Tuesday, March 29th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Saturday, April 23rd. Morgan Stanley restated a “sell” rating and set a $15.00 price objective on shares of Penn National Gaming in a research note on Friday, April 29th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $18.00 price objective on shares of Penn National Gaming in a research note on Thursday, May 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.54.
The company’s 50-day moving average is $14.62 and its 200-day moving average is $15.04. The company has a market capitalization of $1.12 billion and a P/E ratio of 54.88.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, April 28th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The business had revenue of $756.50 million for the quarter, compared to analyst estimates of $755.27 million. On average, equities research analysts predict that Penn National Gaming Inc. will post $0.92 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP boosted its stake in Penn National Gaming by 7.6% in the fourth quarter. Systematic Financial Management LP now owns 380,385 shares of the company’s stock worth $6,093,000 after buying an additional 26,740 shares during the period. Marshall Wace LLP boosted 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 period. Fiduciary Management Associates LLC boosted 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 period. J. Goldman & Co LP purchased a new stake in Penn National Gaming during the fourth quarter worth about $3,581,000. Finally, Victory Capital Management Inc. boosted 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 period.
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.