Penn National Gaming (PENN) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of Penn National Gaming (NASDAQ:PENN) from a strong-buy rating to a buy rating in a report issued on Friday.
Several other brokerages have also issued reports on PENN. Stifel Nicolaus reaffirmed a buy rating and set a $33.00 price target on shares of Penn National Gaming in a research note on Monday, December 18th. Union Gaming Research upped their price target on Penn National Gaming to $35.00 and gave the company a buy rating in a research note on Wednesday, December 20th. Deutsche Bank upped their price target on Penn National Gaming from $29.00 to $32.00 in a research note on Monday, December 18th. Telsey Advisory Group lowered Penn National Gaming from an outperform rating to a market perform rating and set a $26.00 price target on the stock. in a research note on Friday, October 27th. Finally, TheStreet raised Penn National Gaming from a c+ rating to a b+ rating in a research note on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Penn National Gaming has an average rating of Buy and an average price target of $25.82.
Shares of Penn National Gaming (NASDAQ:PENN) remained flat at $$30.79 on Friday. 959,131 shares of the company’s stock traded hands, compared to its average volume of 980,500. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. Penn National Gaming has a 1 year low of $13.00 and a 1 year high of $31.65. The firm has a market cap of $2,806.90, a price-to-earnings ratio of 3.53, a price-to-earnings-growth ratio of 4.11 and a beta of 1.04.
In related news, insider Jay A. Snowden sold 110,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 46,281 shares in the company, valued at $1,160,264.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Wilmott sold 13,903 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $24.05, for a total value of $334,367.15. Following the completion of the sale, the chief executive officer now owns 456,100 shares of the company’s stock, valued at approximately $10,969,205. The disclosure for this sale can be found here. Insiders sold 138,058 shares of company stock valued at $3,432,148 in the last quarter. 10.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its holdings in Penn National Gaming by 14.0% in the third quarter. California Public Employees Retirement System now owns 211,180 shares of the company’s stock valued at $4,940,000 after purchasing an additional 25,980 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Penn National Gaming by 51.9% in the third quarter. Janney Montgomery Scott LLC now owns 16,720 shares of the company’s stock worth $391,000 after acquiring an additional 5,714 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Penn National Gaming by 0.6% in the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock worth $129,155,000 after acquiring an additional 35,400 shares in the last quarter. Earnest Partners LLC bought a new stake in shares of Penn National Gaming in the third quarter worth about $36,544,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Penn National Gaming in the third quarter worth about $4,965,000. Institutional investors and hedge funds own 97.53% 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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