TheStreet Upgrades Penn National Gaming, Inc. (PENN) to B+

Penn National Gaming, Inc. (NASDAQ:PENN) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b+” rating in a research note issued to investors on Monday.

Several other research firms have also recently weighed in on PENN. BidaskClub cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Telsey Advisory Group downgraded 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. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley boosted their target price on Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Eight investment 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 target price of $21.91.

Penn National Gaming (PENN) traded up $0.01 on Monday, reaching $27.16. 785,900 shares of the company traded hands, compared to its average volume of 1,271,957. Penn National Gaming has a 1-year low of $12.77 and a 1-year high of $27.43. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $2,473.25, a PE ratio of 36.69, a price-to-earnings-growth ratio of 6.90 and a beta of 0.97.

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In other news, insider Jay A. Snowden sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $20.86, for a total value of $1,043,000.00. Following the completion of the transaction, 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 accessible through this link. Also, EVP Carl Sottosanti sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $22.00, for a total value of $440,000.00. Following the completion of the transaction, the executive vice president now directly owns 45,831 shares of the company’s stock, valued at approximately $1,008,282. The disclosure for this sale can be found here. Insiders sold 420,813 shares of company stock valued at $9,924,682 in the last ninety days. 10.17% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in Penn National Gaming by 1,461.6% in the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock valued at $107,000 after acquiring an additional 4,677 shares during the last quarter. 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 acquiring an additional 482 shares during the last quarter. Amalgamated Bank bought a new stake in Penn National Gaming in the first quarter valued at approximately $195,000. Oppenheimer & Co. Inc. bought a new stake in Penn National Gaming in the second quarter valued at approximately $206,000. Finally, 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 acquiring an additional 6,692 shares during the last quarter. Institutional investors and hedge funds own 93.77% 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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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