Penn National Gaming (PENN) Given New $30.00 Price Target at Barclays
Penn National Gaming (NASDAQ:PENN) had its target price hoisted by Barclays from $23.00 to $30.00 in a research report released on Monday, November 20th, MarketBeat.com reports. They currently have an overweight rating on the stock.
A number of other equities research analysts have also recently issued reports on PENN. BidaskClub upgraded Penn National Gaming from a sell rating to a hold rating in a research note on Saturday, August 12th. Zacks Investment Research cut Penn National Gaming from a buy rating to a hold rating in a research report on Wednesday, August 2nd. ValuEngine cut Penn National Gaming from a buy rating to a hold rating in a research report on Tuesday, August 1st. TheStreet raised Penn National Gaming from a c+ rating to a b+ rating in a report on Monday, November 13th. Finally, Telsey Advisory Group boosted their price objective on Penn National Gaming from $23.00 to $24.00 and gave the stock an outperform rating in a report on Friday, July 28th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $22.55.
Shares of Penn National Gaming (NASDAQ:PENN) traded down $0.23 during trading hours on Monday, hitting $28.59. 630,721 shares of the company were exchanged, compared to its average volume of 1,248,590. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 18.36. The stock has a market cap of $2,634.49, a P/E ratio of 39.08, a P/E/G ratio of 7.34 and a beta of 1.04. Penn National Gaming has a 52 week low of $13.00 and a 52 week high of $29.84.
In other news, CEO Timothy J. Wilmott sold 4,900 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $23.02, for a total transaction of $112,798.00. Following the completion of the transaction, the chief executive officer now directly owns 460,600 shares in the company, valued at $10,603,012. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay A. Snowden sold 110,000 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $25.07, for a total value of $2,757,700.00. Following the transaction, the insider now owns 46,281 shares of the company’s stock, valued at $1,160,264.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,813 shares of company stock valued at $8,441,682. 10.17% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in PENN. Meeder Asset Management Inc. boosted its position in shares of Penn National Gaming by 1,461.6% during the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock valued at $107,000 after buying an additional 4,677 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position 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 valued at $159,000 after buying an additional 482 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Penn National Gaming during the first quarter valued at $195,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Penn National Gaming during the second quarter valued at $206,000. Finally, Royal Bank of Canada boosted its position 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 valued at $212,000 after buying an additional 6,692 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.
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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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