Penn National Gaming, Inc (NASDAQ:PENN) shares traded down 1.4% on Thursday . The stock traded as low as $16.88 and last traded at $16.80, 34,553 shares were traded during mid-day trading. A decline of 98% from the average session volume of 2,019,876 shares. The stock had previously closed at $17.04.

A number of research analysts have weighed in on the stock. Bank of America upgraded shares of Penn National Gaming from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. Morgan Stanley set a $27.00 price objective on shares of Penn National Gaming and gave the company a “buy” rating in a research report on Friday, August 2nd. Union Gaming Research upgraded shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Susquehanna Bancshares assumed coverage on shares of Penn National Gaming in a research report on Wednesday, July 24th. They set a “positive” rating and a $25.00 price objective on the stock. Finally, Deutsche Bank reiterated a “buy” rating and set a $27.00 price objective on shares of Penn National Gaming in a research report on Sunday, August 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $30.02.

The company has a debt-to-equity ratio of 5.65, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $1.95 billion, a P/E ratio of 18.04, a PEG ratio of 1.17 and a beta of 1.73. The stock’s 50-day simple moving average is $18.76 and its two-hundred day simple moving average is $20.89.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.10. Penn National Gaming had a net margin of 1.90% and a return on equity of 9.76%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business’s revenue was up 60.0% compared to the same quarter last year. As a group, sell-side analysts expect that Penn National Gaming, Inc will post 1.58 earnings per share for the current year.

In related news, Director David A. Handler bought 30,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $17.68 per share, with a total value of $530,400.00. Following the completion of the purchase, the director now owns 169,870 shares of the company’s stock, valued at $3,003,301.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.53% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of PENN. Bessemer Group Inc. purchased a new stake in shares of Penn National Gaming during the second quarter valued at $29,000. MUFG Americas Holdings Corp purchased a new stake in shares of Penn National Gaming during the second quarter valued at $34,000. Quantamental Technologies LLC purchased a new stake in shares of Penn National Gaming during the second quarter valued at $57,000. Manchester Capital Management LLC purchased a new stake in shares of Penn National Gaming during the first quarter valued at $63,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Penn National Gaming during the second quarter valued at $130,000. 96.62% of the stock is owned by hedge funds and other institutional investors.

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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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