Penn National Gaming (NASDAQ:PENN) Earns “Overweight” Rating from JPMorgan Chase & Co.

Penn National Gaming (NASDAQ:PENN)‘s stock had its “overweight” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday, Benzinga reports.

A number of other equities analysts have also recently weighed in on PENN. KeyCorp assumed coverage on shares of Penn National Gaming in a research report on Wednesday, January 13th. They set a “sector weight” rating for the company. Rosenblatt Securities upped their price objective on shares of Penn National Gaming from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. Stifel Nicolaus upped their price objective on shares of Penn National Gaming from $100.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Loop Capital cut shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Thursday, January 14th. Finally, Piper Sandler upped their price objective on shares of Penn National Gaming from $100.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, February 4th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $87.53.

Shares of PENN traded down $4.84 during trading hours on Tuesday, hitting $112.98. The stock had a trading volume of 192,405 shares, compared to its average volume of 4,502,722. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a 50-day moving average price of $107.57 and a 200 day moving average price of $77.12. Penn National Gaming has a fifty-two week low of $3.75 and a fifty-two week high of $129.00. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of -16.70 and a beta of 2.79.

Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, February 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Penn National Gaming had a negative net margin of 19.86% and a negative return on equity of 8.73%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. As a group, analysts predict that Penn National Gaming will post 0.41 EPS for the current fiscal year.

In related news, EVP Carl Sottosanti sold 93,134 shares of the firm’s stock in a transaction that occurred on Monday, November 30th. The shares were sold at an average price of $72.32, for a total value of $6,735,450.88. Following the sale, the executive vice president now owns 68,461 shares of the company’s stock, valued at $4,951,099.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christine Labombard sold 6,732 shares of the firm’s stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of $91.00, for a total transaction of $612,612.00. Following the completion of the sale, the chief accounting officer now directly owns 12,320 shares in the company, valued at approximately $1,121,120. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,366,716 shares of company stock worth $398,640,017. 1.81% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC acquired a new stake in Penn National Gaming during the fourth quarter worth approximately $26,000. Archer Investment Corp purchased a new position in Penn National Gaming in the 4th quarter valued at $37,000. Crewe Advisors LLC grew its position in Penn National Gaming by 65.1% in the 4th quarter. Crewe Advisors LLC now owns 444 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the last quarter. Institutional & Family Asset Management LLC grew its position in Penn National Gaming by 45.8% in the 4th quarter. Institutional & Family Asset Management LLC now owns 446 shares of the company’s stock valued at $39,000 after buying an additional 140 shares during the last quarter. Finally, JFS Wealth Advisors LLC acquired a new stake in Penn National Gaming in the fourth quarter valued at $42,000. 87.48% of the stock is currently owned by institutional investors.

About Penn National Gaming

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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