Penn National Gaming (PENN) Lowered to “Buy” at BidaskClub

Penn National Gaming (NASDAQ:PENN) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts also recently weighed in on the stock. Barclays raised their target price on shares of Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Morgan Stanley raised their target price on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Telsey Advisory Group downgraded shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 target price for the company. in a research note on Friday, October 27th. Deutsche Bank raised their target price on shares of Penn National Gaming from $29.00 to $32.00 in a research note on Monday, December 18th. Finally, Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $25.00.

Penn National Gaming (NASDAQ PENN) opened at $30.31 on Friday. The stock has a market cap of $2,764.96, a P/E ratio of 3.48, a PEG ratio of 4.15 and a beta of 1.04. Penn National Gaming has a one year low of $13.00 and a one year high of $31.65. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82.

In other news, insider Jay A. Snowden sold 110,000 shares of Penn National Gaming stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $25.07, for a total transaction of $2,757,700.00. Following the completion of the sale, the insider now directly owns 46,281 shares in the company, valued at $1,160,264.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Wilmott sold 1,661 shares of Penn National Gaming stock in a transaction on Friday, October 13th. The stock was sold at an average price of $24.01, for a total transaction of $39,880.61. The disclosure for this sale can be found here. Insiders have sold 138,058 shares of company stock valued at $3,432,148 over the last quarter. Insiders own 10.17% of the company’s stock.

Several large investors have recently bought and sold shares of PENN. Ameritas Investment Partners Inc. lifted its stake in shares of Penn National Gaming by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock worth $159,000 after buying an additional 482 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Penn National Gaming during the second quarter worth $206,000. Royal Bank of Canada lifted its stake in shares of Penn National Gaming by 209.1% during the second quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after buying an additional 6,692 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Penn National Gaming by 82.8% during the third quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock worth $214,000 after purchasing an additional 4,138 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Penn National Gaming by 3.8% during the second quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock worth $235,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

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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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