Penn National Gaming (PENN) Upgraded to “Strong-Buy” by BidaskClub
BidaskClub upgraded shares of Penn National Gaming (NASDAQ:PENN) from a buy rating to a strong-buy rating in a research note released on Saturday.
A number of other research firms have also commented on PENN. Telsey Advisory Group lowered Penn National Gaming from an outperform rating to a market perform rating and set a $26.00 price target for the company. in a research report on Friday, October 27th. TheStreet raised Penn National Gaming from a c+ rating to a b+ rating in a research report on Monday, November 13th. Zacks Investment Research raised Penn National Gaming from a hold rating to a buy rating and set a $27.00 target price for the company in a research report on Saturday, October 7th. Morgan Stanley raised their target price on 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. Finally, Barclays raised their target price on Penn National Gaming from $23.00 to $30.00 and gave the company an overweight rating in a research report on Monday, November 20th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $22.55.
Penn National Gaming (NASDAQ PENN) traded up $0.44 during midday trading on Friday, reaching $29.69. The company had a trading volume of 4,011,644 shares, compared to its average volume of 901,085. The stock has a market cap of $2,704.64, a price-to-earnings ratio of 40.12, a P/E/G ratio of 7.54 and a beta of 1.04. Penn National Gaming has a twelve month low of $13.00 and a twelve month high of $29.84. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82.
In other news, CEO Timothy J. Wilmott sold 1,661 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $24.01, for a total transaction of $39,880.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay A. Snowden sold 110,000 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $25.07, for a total value of $2,757,700.00. Following the transaction, the insider now owns 46,281 shares of the company’s stock, valued at approximately $1,160,264.67. The disclosure for this sale can be found here. Insiders have sold a total of 350,813 shares of company stock valued at $8,441,682 in the last quarter. 10.17% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its stake in shares of Penn National Gaming by 6.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock worth $159,000 after acquiring an additional 482 shares during the period. Meeder Asset Management Inc. boosted its stake in Penn National Gaming by 82.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock worth $214,000 after purchasing an additional 4,138 shares during the period. Oppenheimer & Co. Inc. bought a new position in Penn National Gaming in the 2nd quarter worth about $206,000. Royal Bank of Canada boosted 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 worth $212,000 after purchasing an additional 6,692 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Penn National Gaming in the 2nd quarter worth about $213,000. Institutional investors own 97.64% of the company’s stock.
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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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