Telsey Advisory Group lowered shares of Penn National Gaming, Inc. (NASDAQ:PENN) from an outperform rating to a market perform rating in a report released on Friday, October 27th, Marketbeat Ratings reports. Telsey Advisory Group currently has $26.00 price target on the stock.
PENN has been the subject of several other reports. Zacks Investment Research raised shares of Penn National Gaming from a hold rating to a buy rating and set a $27.00 price target for the company in a report on Saturday, October 7th. Stifel Nicolaus restated a buy rating and set a $23.00 price objective on shares of Penn National Gaming in a research report on Friday, July 14th. BidaskClub upgraded shares of Penn National Gaming from a sell rating to a hold rating in a research report on Saturday, August 12th. Morgan Stanley raised their price objective on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an equal weight rating in a research report on Tuesday, October 24th. Finally, ValuEngine cut shares of Penn National Gaming from a buy rating to a hold rating in a research report on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Penn National Gaming currently has an average rating of Hold and an average price target of $21.91.
Penn National Gaming (PENN) traded down $0.21 on Friday, reaching $26.88. 1,034,000 shares of the company traded hands, compared to its average volume of 1,276,129. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.75 and a current ratio of 0.82. Penn National Gaming has a 52 week low of $12.77 and a 52 week high of $27.27. The company has a market cap of $2,467.78, a P/E ratio of 36.61, a PEG ratio of 6.88 and a beta of 0.97.
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In related news, insider Jay A. Snowden sold 50,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $20.86, for a total transaction of $1,043,000.00. Following the sale, the insider now owns 86,281 shares of the company’s stock, valued at $1,799,821.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay A. Snowden sold 110,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $25.07, for a total transaction of $2,757,700.00. Following the sale, the insider now directly owns 46,281 shares in the company, valued at approximately $1,160,264.67. The disclosure for this sale can be found here. Insiders have sold a total of 420,813 shares of company stock worth $9,924,682 in the last ninety days. Insiders own 10.17% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PENN. BlackRock Inc. lifted its stake in shares of Penn National Gaming by 138,953.6% in the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after buying an additional 8,891,641 shares in the last quarter. FMR LLC raised its holdings in shares of Penn National Gaming by 689.3% during the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock valued at $109,840,000 after purchasing an additional 4,482,402 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Penn National Gaming by 17.7% during the first quarter. Vanguard Group Inc. now owns 6,939,822 shares of the company’s stock valued at $127,901,000 after purchasing an additional 1,043,087 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Penn National Gaming during the second quarter valued at approximately $20,760,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Penn National Gaming by 3,365.0% during the second quarter. Acadian Asset Management LLC now owns 951,792 shares of the company’s stock valued at $20,368,000 after purchasing an additional 924,323 shares during the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
About Penn National Gaming
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.
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