Penn National Gaming, Inc. (NASDAQ:PENN) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 8,605,125 shares, a drop of 20.3% from the October 13th total of 10,798,059 shares. Based on an average trading volume of 1,191,712 shares, the short-interest ratio is presently 7.2 days. Currently, 10.2% of the company’s stock are short sold.

Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Morgan Stanley lifted their price objective on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Finally, Telsey Advisory Group downgraded shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 27th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.91.

Penn National Gaming (PENN) opened at $27.16 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. Penn National Gaming has a fifty-two week low of $12.77 and a fifty-two week high of $27.43. The stock has a market cap of $2,448.65, a price-to-earnings ratio of 36.32, a P/E/G ratio of 6.83 and a beta of 0.97.

In other Penn National Gaming news, CEO Timothy J. Wilmott sold 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $23.02, for a total value of $124,308.00. Following the completion of the sale, the chief executive officer now directly owns 460,600 shares in the company, valued at $10,603,012. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jay A. Snowden sold 50,000 shares of Penn National Gaming stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.86, for a total transaction of $1,043,000.00. Following the sale, the insider now owns 86,281 shares of the company’s stock, valued at $1,799,821.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 420,813 shares of company stock valued at $9,924,682. 10.17% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Penn National Gaming by 138,953.6% during the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after purchasing an additional 8,891,641 shares during the last quarter. HAP Trading LLC raised its holdings in shares of Penn National Gaming by 42.0% during the second quarter. HAP Trading LLC now owns 249,386 shares of the company’s stock worth $5,337,000 after purchasing an additional 73,752 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Penn National Gaming by 2.0% during the second quarter. Peregrine Capital Management LLC now owns 793,030 shares of the company’s stock worth $16,971,000 after purchasing an additional 15,863 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Penn National Gaming by 24.7% during the first quarter. Geode Capital Management LLC now owns 724,113 shares of the company’s stock worth $13,345,000 after purchasing an additional 143,514 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Penn National Gaming by 78.3% during the second quarter. State of Alaska Department of Revenue now owns 16,312 shares of the company’s stock worth $349,000 after purchasing an additional 7,162 shares during the last quarter. 93.77% of the stock is owned by hedge funds and other institutional investors.

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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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