Penn National Gaming, Inc (NASDAQ:PENN) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 4,798 call options on the stock. This is an increase of 2,042% compared to the average volume of 224 call options.

Several equities analysts have issued reports on the company. Morgan Stanley boosted their price target on Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Barclays boosted their price target on Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. BidaskClub raised Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Telsey Advisory Group downgraded Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 price objective for the company. in a report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $22.55.

In other Penn National Gaming news, CEO Timothy J. Wilmott sold 5,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $23.02, for a total value of $124,308.00. Following the transaction, the chief executive officer now directly owns 460,600 shares of the company’s stock, valued at $10,603,012. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Wilmott sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $23.02, for a total value of $112,798.00. Following the completion of the transaction, the chief executive officer now directly owns 460,600 shares in the company, valued at $10,603,012. The disclosure for this sale can be found here. Over the last three months, insiders sold 350,813 shares of company stock worth $8,441,682. Insiders own 10.17% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. FMR LLC increased its holdings in shares of Penn National Gaming by 689.3% during the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock valued at $109,840,000 after acquiring an additional 4,482,402 shares in the last quarter. Earnest Partners LLC bought a new stake in shares of Penn National Gaming during the third quarter valued at approximately $36,544,000. Lord Abbett & CO. LLC bought a new stake in shares of Penn National Gaming during the second quarter valued at approximately $20,760,000. Renaissance Technologies LLC grew its holdings in Penn National Gaming by 384.9% during the second quarter. Renaissance Technologies LLC now owns 929,500 shares of the company’s stock worth $19,891,000 after buying an additional 737,800 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Penn National Gaming by 35.1% during the second quarter. Bank of New York Mellon Corp now owns 2,393,714 shares of the company’s stock worth $51,225,000 after buying an additional 622,482 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Shares of Penn National Gaming (NASDAQ:PENN) opened at $28.92 on Friday. The company has a market capitalization of $2,630.00, a P/E ratio of 37.68, a PEG ratio of 7.08 and a beta of 1.32. Penn National Gaming has a 1-year low of $12.81 and a 1-year high of $29.25. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36.

ILLEGAL ACTIVITY NOTICE: This story was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.watchlistnews.com/penn-national-gaming-target-of-unusually-high-options-trading-penn/1738410.html.

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.

Receive News & Ratings for Penn National Gaming Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.