Penn National Gaming (PENN) Trading 5.1% Higher Following Analyst Upgrade

Shares of Penn National Gaming, Inc (NASDAQ:PENN) shot up 5.1% during mid-day trading on Thursday 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 $31.20 and last traded at $30.90. 3,425,900 shares changed hands during trading, an increase of 166% from the average session volume of 1,288,296 shares. The stock had previously closed at $29.40.

A number of other brokerages also recently issued reports on PENN. Telsey Advisory Group increased their price target on Penn National Gaming from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Barclays increased their price target 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. BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 16th. Finally, Morgan Stanley upped their target price on 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. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.00.

In other Penn National Gaming news, CEO Timothy J. Wilmott sold 23,419 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $23.27, for a total transaction of $544,960.13. Following the completion of the sale, the chief executive officer now directly owns 479,119 shares in the company, valued at approximately $11,149,099.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay A. Snowden sold 110,000 shares of the 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 sale, the insider now owns 46,281 shares of the company’s stock, valued at $1,160,264.67. The disclosure for this sale can be found here. Insiders sold 340,113 shares of company stock valued at $8,195,376 over the last 90 days. 10.17% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. HAP Trading LLC lifted its position in Penn National Gaming by 42.0% in the 2nd quarter. HAP Trading LLC now owns 249,386 shares of the company’s stock valued at $5,337,000 after acquiring an additional 73,752 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Penn National Gaming by 15.9% during the 2nd quarter. Voya Investment Management LLC now owns 39,066 shares of the company’s stock worth $836,000 after buying an additional 5,354 shares in the last quarter. Strs Ohio bought a new position in shares of Penn National Gaming during the 3rd quarter worth approximately $3,508,000. State Street Corp lifted its position in shares of Penn National Gaming by 8.6% during the 2nd quarter. State Street Corp now owns 1,971,391 shares of the company’s stock worth $42,183,000 after buying an additional 156,455 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Penn National Gaming by 2.6% during the 3rd quarter. Rhumbline Advisers now owns 173,787 shares of the company’s stock worth $4,065,000 after buying an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $2,678.21, a PE ratio of 39.73, a P/E/G ratio of 7.35 and a beta of 1.04.

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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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