Penn National Gaming, Inc (NASDAQ:PENN) dropped 5.6% during mid-day trading on Friday . The stock traded as low as $27.75 and last traded at $28.15. Approximately 2,238,102 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 1,495,301 shares. The stock had previously closed at $29.81.

PENN has been the subject of several analyst reports. ValuEngine raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. SunTrust Banks initiated coverage on shares of Penn National Gaming in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $39.00 price objective for the company. Jefferies Financial Group set a $40.00 price objective on shares of Penn National Gaming and gave the company a “buy” rating in a research note on Friday, July 27th. BidaskClub raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Finally, Morgan Stanley lifted their price objective on shares of Penn National Gaming from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $36.08.

The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 3.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.61. The company has a debt-to-equity ratio of 162.63, a quick ratio of 0.63 and a current ratio of 0.63.

Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, July 26th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.08. The firm had revenue of $826.91 million during the quarter, compared to analyst estimates of $840.15 million. Penn National Gaming had a net margin of 18.02% and a return on equity of 268.43%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that Penn National Gaming, Inc will post 2.06 earnings per share for the current year.

In other Penn National Gaming news, Director Saul Reibstein sold 6,694 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $35.00, for a total transaction of $234,290.00. Following the completion of the transaction, the director now owns 25,642 shares of the company’s stock, valued at approximately $897,470. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Wilmott bought 100,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were purchased at an average cost of $30.85 per share, with a total value of $3,085,000.00. The disclosure for this purchase can be found here. 10.56% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of PENN. Glenmede Trust Co. NA increased its holdings in shares of Penn National Gaming by 12,755.2% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,103,877 shares of the company’s stock worth $37,079,000 after purchasing an additional 1,095,290 shares during the period. Millennium Management LLC increased its holdings in shares of Penn National Gaming by 64.9% during the 1st quarter. Millennium Management LLC now owns 2,337,500 shares of the company’s stock worth $61,383,000 after purchasing an additional 920,184 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Penn National Gaming by 47.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,547,091 shares of the company’s stock worth $85,557,000 after purchasing an additional 823,049 shares during the period. Hood River Capital Management LLC increased its holdings in shares of Penn National Gaming by 149,643.6% during the 2nd quarter. Hood River Capital Management LLC now owns 730,749 shares of the company’s stock worth $24,546,000 after purchasing an additional 730,261 shares during the period. Finally, Copper Rock Capital Partners LLC bought a new position in shares of Penn National Gaming during the 2nd quarter worth about $19,265,000. Institutional investors own 99.21% of the company’s stock.

Penn National Gaming Company Profile (NASDAQ:PENN)

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

Further Reading: Insider Trading

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