Penn National Gaming (NASDAQ:PENN)’s share price hit a new 52-week high and low during mid-day trading on Friday . The company traded as low as $36.29 and last traded at $35.27, with a volume of 576079 shares traded. The stock had previously closed at $35.45.
PENN has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on Penn National Gaming from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, April 30th. SunTrust Banks upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. They noted that the move was a valuation call. Jefferies Group restated a “buy” rating and set a $35.00 target price on shares of Penn National Gaming in a report on Tuesday, February 6th. Zacks Investment Research cut Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Finally, BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 3rd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $33.00.
The stock has a market capitalization of $3.20 billion, a P/E ratio of 39.16 and a beta of 1.41. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of -138.00.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 26th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.09. The company had revenue of $816.10 million for the quarter, compared to analyst estimates of $805.70 million. Penn National Gaming had a negative return on equity of 92.84% and a net margin of 17.04%. Penn National Gaming’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. equities research analysts predict that Penn National Gaming will post 1.55 earnings per share for the current fiscal year.
In other news, CEO Timothy J. Wilmott sold 84,084 shares of the firm’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $30.30, for a total transaction of $2,547,745.20. Following the sale, the chief executive officer now owns 580,093 shares of the company’s stock, valued at $17,576,817.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Wilmott sold 102,528 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $30.41, for a total value of $3,117,876.48. Following the sale, the chief executive officer now directly owns 615,395 shares in the company, valued at approximately $18,714,161.95. The disclosure for this sale can be found here. Company insiders own 10.56% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new stake in Penn National Gaming in the 4th quarter valued at approximately $1,131,000. Acadian Asset Management LLC raised its position in Penn National Gaming by 182.5% in the 4th quarter. Acadian Asset Management LLC now owns 413,906 shares of the company’s stock valued at $12,968,000 after buying an additional 267,415 shares during the last quarter. Strs Ohio raised its position in Penn National Gaming by 18.9% in the 4th quarter. Strs Ohio now owns 178,400 shares of the company’s stock valued at $5,589,000 after buying an additional 28,400 shares during the last quarter. James Investment Research Inc. raised its position in Penn National Gaming by 8,807.3% in the 4th quarter. James Investment Research Inc. now owns 103,325 shares of the company’s stock valued at $3,237,000 after buying an additional 102,165 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in Penn National Gaming in the 4th quarter valued at approximately $35,347,000. 99.10% of the stock is currently owned by institutional investors.
About Penn National Gaming
Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.
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