Penn National Gaming Target of Unusually Large Options Trading (PENN)

Penn National Gaming, Inc (NASDAQ:PENN) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 3,491 call options on the company. This is an increase of approximately 1,424% compared to the typical daily volume of 229 call options.

Shares of Penn National Gaming (PENN) traded up $0.27 during trading hours on Monday, reaching $27.83. 1,830,000 shares of the company’s stock were exchanged, compared to its average volume of 1,170,000. Penn National Gaming has a one year low of $13.73 and a one year high of $33.30. The stock has a market capitalization of $2,540.00, a price-to-earnings ratio of 5.28 and a beta of 1.39. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($3.40) EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). Penn National Gaming had a negative return on equity of 22.76% and a net margin of 15.97%. The company had revenue of $769.00 million for the quarter, compared to analyst estimates of $766.82 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. equities analysts forecast that Penn National Gaming will post 1.39 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC acquired a new position in Penn National Gaming in the fourth quarter valued at approximately $127,000. Ameritas Investment Partners Inc. boosted its holdings in Penn National Gaming by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after purchasing an additional 482 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Penn National Gaming in the second quarter valued at approximately $206,000. Royal Bank of Canada boosted its holdings in Penn National Gaming by 209.1% in the second quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock valued at $212,000 after purchasing an additional 6,692 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Penn National Gaming in the fourth quarter valued at approximately $212,000. 97.32% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on PENN. Morgan Stanley dropped their price target on shares of Penn National Gaming from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday. Deutsche Bank lowered their target price on shares of Penn National Gaming from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Group reaffirmed a “buy” rating and set a $35.00 target price on shares of Penn National Gaming in a research note on Tuesday, February 6th. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Finally, Union Gaming Research boosted their price target on shares of Penn National Gaming to $35.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.09.

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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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