Zacks Investment Research upgraded shares of Penn National Gaming (NASDAQ:PENN) from a hold rating to a strong-buy rating in a research report released on Tuesday, January 9th. The firm currently has $35.00 target price on the stock.
According to Zacks, “Penn National Gaming, Inc. owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. They have also recently expanded into social online gaming offerings via Penn Interactive Ventures, LLC division and recent acquisition of Rocket Speed Inc. “
A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank upped their price target on shares of Penn National Gaming from $29.00 to $32.00 in a report on Monday, December 18th. Barclays increased 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. BidaskClub cut shares of Penn National Gaming from a strong-buy rating to a buy rating in a research note on Friday, January 5th. Morgan Stanley increased their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an equal weight rating in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus reissued a buy rating and issued a $33.00 price target on shares of Penn National Gaming in a research report on Monday, December 18th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $29.09.
Shares of Penn National Gaming (NASDAQ:PENN) opened at $31.07 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. Penn National Gaming has a fifty-two week low of $13.50 and a fifty-two week high of $33.30. The stock has a market cap of $2,730.00, a PE ratio of 3.56 and a beta of 1.39.
A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. bought a new position in Penn National Gaming in the fourth quarter valued at approximately $4,383,000. Gator Capital Management LLC bought a new position in Penn National Gaming in the fourth quarter valued at approximately $729,000. Aperio Group LLC boosted its position in shares of Penn National Gaming by 32.2% during the fourth quarter. Aperio Group LLC now owns 13,979 shares of the company’s stock worth $438,000 after purchasing an additional 3,401 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Penn National Gaming during the fourth quarter worth $864,000. Finally, Dupont Capital Management Corp bought a new position in shares of Penn National Gaming during the fourth quarter worth $3,569,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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