Penn National Gaming, Inc. (NASDAQ:PENN) insider Jay A. Snowden sold 50,000 shares of Penn National Gaming stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Penn National Gaming, Inc. (NASDAQ:PENN) traded down 0.04% during midday trading on Friday, hitting $22.52. 878,479 shares of the stock were exchanged. Penn National Gaming, Inc. has a one year low of $11.93 and a one year high of $23.03. The stock has a market cap of $2.05 billion, a P/E ratio of 28.29 and a beta of 0.99. The firm has a 50-day moving average price of $21.31 and a 200-day moving average price of $19.59.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The business had revenue of $796.50 million during the quarter, compared to analyst estimates of $788.65 million. During the same period last year, the business posted $0.37 EPS. Penn National Gaming’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Penn National Gaming, Inc. will post $0.61 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of 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 buying an additional 4,677 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Penn National Gaming in the first quarter valued at $128,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Penn National Gaming in the first quarter valued at $134,000. State of Alaska Department of Revenue purchased a new position in shares of Penn National Gaming in the first quarter valued at $168,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Penn National Gaming in the second quarter valued at $206,000. Institutional investors and hedge funds own 95.31% of the company’s stock.
PENN has been the subject of several recent research reports. Telsey Advisory Group lifted their target price on shares of Penn National Gaming from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Instinet reaffirmed a “neutral” rating and set a $21.00 target price (up from $19.00) on shares of Penn National Gaming in a report on Monday, June 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 target price on shares of Penn National Gaming in a report on Friday, July 14th. BidaskClub raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, July 5th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Penn National Gaming currently has a consensus rating of “Buy” and an average target price of $21.00.
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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