Penn National Gaming, Inc (NASDAQ:PENN) shares hit a new 52-week high during mid-day trading on Wednesday after Union Gaming Research raised their price target on the stock to $35.00. Union Gaming Research currently has a buy rating on the stock. Penn National Gaming traded as high as $31.17 and last traded at $29.40, with a volume of 2627500 shares changing hands. The stock had previously closed at $29.03.

Other analysts have also issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $33.00 target price on shares of Penn National Gaming in a research note on Monday. Morgan Stanley lifted their price objective on Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Deutsche Bank lifted their price objective on Penn National Gaming from $29.00 to $32.00 in a research report on Monday. Barclays lifted their price objective on Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Finally, Zacks Investment Research lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.00.

In other Penn National Gaming news, insider Jay A. Snowden sold 110,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 46,281 shares in the company, valued at approximately $1,160,264.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Wilmott sold 1,661 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $24.01, for a total value of $39,880.61. The disclosure for this sale can be found here. Insiders have sold a total of 340,113 shares of company stock worth $8,195,376 in the last quarter. 10.17% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its holdings in shares of Penn National Gaming by 14.0% during the 3rd quarter. California Public Employees Retirement System now owns 211,180 shares of the company’s stock worth $4,940,000 after acquiring an additional 25,980 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Penn National Gaming by 51.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 16,720 shares of the company’s stock valued at $391,000 after buying an additional 5,714 shares in the last quarter. Bamco Inc. NY grew its holdings in Penn National Gaming by 0.6% in the 3rd quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock valued at $129,155,000 after buying an additional 35,400 shares in the last quarter. Earnest Partners LLC acquired a new position in Penn National Gaming in the 3rd quarter valued at $36,544,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Penn National Gaming in the 3rd quarter valued at $4,965,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

The firm has a market capitalization of $2,644.51, a price-to-earnings ratio of 39.23, a P/E/G ratio of 7.25 and a beta of 1.04. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82.

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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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