Brokerages Set Penn National Gaming, Inc (NASDAQ:PENN) PT at $28.70

Penn National Gaming, Inc (NASDAQ:PENN) has been assigned an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.70.

A number of analysts have recently commented on PENN shares. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Bank of America upgraded Penn National Gaming from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. BidaskClub raised Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Wednesday. Susquehanna Bancshares started coverage on Penn National Gaming in a research report on Wednesday, July 24th. They issued a “positive” rating and a $25.00 target price on the stock. Finally, Morgan Stanley set a $27.00 target price on Penn National Gaming and gave the company a “buy” rating in a research report on Friday, August 2nd.

In other Penn National Gaming news, Director David A. Handler purchased 30,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $17.68 per share, with a total value of $530,400.00. Following the completion of the transaction, the director now directly owns 169,870 shares in the company, valued at $3,003,301.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Saul Reibstein purchased 3,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $17.30 per share, for a total transaction of $51,900.00. The disclosure for this purchase can be found here. 8.53% of the stock is currently owned by insiders.



A number of hedge funds and other institutional investors have recently made changes to their positions in PENN. Bessemer Group Inc. acquired a new position in Penn National Gaming during the second quarter worth approximately $29,000. MUFG Americas Holdings Corp acquired a new position in Penn National Gaming during the second quarter worth approximately $34,000. Quantamental Technologies LLC acquired a new position in Penn National Gaming during the second quarter worth approximately $57,000. Manchester Capital Management LLC acquired a new position in Penn National Gaming during the first quarter worth approximately $63,000. Finally, Pearl River Capital LLC acquired a new position in shares of Penn National Gaming in the second quarter valued at approximately $130,000. 93.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Penn National Gaming stock traded down $0.45 during trading on Friday, reaching $18.02. The stock had a trading volume of 1,057,880 shares, compared to its average volume of 2,127,639. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.17 and a beta of 1.73. The stock has a fifty day moving average price of $18.55 and a two-hundred day moving average price of $20.70. Penn National Gaming has a 52 week low of $16.72 and a 52 week high of $35.36. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 5.89.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. The company’s quarterly revenue was up 60.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. On average, equities analysts forecast that Penn National Gaming will post 1.58 EPS for the current fiscal year.

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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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