Union Gaming Research Boosts Penn National Gaming (PENN) Price Target to $35.00

Penn National Gaming (NASDAQ:PENN) had its target price lifted by Union Gaming Research to $35.00 in a report issued on Wednesday. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Morgan Stanley upped their target price on Penn National Gaming from $22.00 to $26.00 and gave the company an equal weight rating in a report on Tuesday, October 24th. Barclays upped their target price on Penn National Gaming from $23.00 to $30.00 and gave the company an overweight rating in a report on Monday, November 20th. Telsey Advisory Group cut Penn National Gaming from an outperform rating to a market perform rating and set a $26.00 target price for the company. in a report on Friday, October 27th. Zacks Investment Research cut Penn National Gaming from a buy rating to a hold rating in a report on Wednesday, November 1st. Finally, TheStreet upgraded Penn National Gaming from a c+ rating to a b+ rating in a report on Monday, November 13th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $25.00.

Shares of Penn National Gaming (NASDAQ PENN) traded down $0.82 on Wednesday, hitting $30.52. The company had a trading volume of 918,379 shares, compared to its average volume of 1,637,952. 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 stock has a market capitalization of $2,857.04, a PE ratio of 3.50, a price-to-earnings-growth ratio of 7.96 and a beta of 1.04. Penn National Gaming has a 52-week low of $13.00 and a 52-week high of $31.42.

In related news, CEO Timothy J. Wilmott sold 94,200 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $23.16, for a total transaction of $2,181,672.00. Following the transaction, the chief executive officer now owns 479,119 shares of the company’s stock, valued at approximately $11,096,396.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $544,960.13. Following the transaction, the chief executive officer now directly owns 479,119 shares in the company, valued at approximately $11,149,099.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 340,113 shares of company stock worth $8,195,376. Corporate insiders own 10.17% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its stake in 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 in the last quarter. Janney Montgomery Scott LLC lifted its stake in Penn National Gaming by 51.9% during the 3rd 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 lifted its stake in Penn National Gaming by 0.6% during the 3rd 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 acquired a new position in Penn National Gaming during the 3rd quarter worth about $36,544,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Penn National Gaming during the 3rd quarter worth about $4,965,000. 97.61% of the stock is currently 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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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