Penn National Gaming, Inc. (PENN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Penn National Gaming, Inc. (NASDAQ:PENN) from a buy rating to a hold rating in a research report released on Wednesday, November 1st.

According to Zacks, “Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations. “

Several other research analysts have also commented on the stock. ValuEngine lowered shares of Penn National Gaming from a buy rating to a hold rating in a research note on Tuesday, August 1st. Morgan Stanley raised their price objective on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an equal weight rating in a research note on Tuesday, October 24th. BidaskClub downgraded shares of Penn National Gaming from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reissued a buy rating and set a $23.00 price objective on shares of Penn National Gaming in a report on Friday, July 14th. Finally, Telsey Advisory Group cut shares of Penn National Gaming from an outperform rating to a market perform rating and set a $26.00 price objective on the stock. in a report on Friday, October 27th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $22.55.

Shares of Penn National Gaming (PENN) traded up $0.50 during mid-day trading on Wednesday, reaching $27.68. 1,322,815 shares of the company’s stock traded hands, compared to its average volume of 1,267,289. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. The stock has a market capitalization of $2,475.98, a price-to-earnings ratio of 36.73, a PEG ratio of 6.90 and a beta of 0.97. Penn National Gaming has a one year low of $12.77 and a one year high of $28.02.

WARNING: “Penn National Gaming, Inc. (PENN) Lowered to “Hold” at Zacks Investment Research” was originally posted by BBNS and is the sole property of of BBNS. If you are viewing this news story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The original version of this news story can be accessed at https://baseballnewssource.com/markets/penn-national-gaming-inc-penn-downgraded-to-hold-at-zacks-investment-research/1748133.html.

In other Penn National Gaming news, insider Jay A. Snowden sold 110,000 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $25.07, for a total value of $2,757,700.00. Following the sale, the insider now directly owns 46,281 shares of the company’s stock, valued at $1,160,264.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jay A. Snowden sold 50,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $20.86, for a total value of $1,043,000.00. Following the transaction, the insider now directly owns 86,281 shares in the company, valued at $1,799,821.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 420,813 shares of company stock valued at $9,924,682. Company insiders own 10.17% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PENN. Meeder Asset Management Inc. boosted its position in Penn National Gaming by 1,461.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after acquiring an additional 4,677 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Penn National Gaming during the 1st quarter worth about $134,000. Ameritas Investment Partners Inc. raised its stake in shares of Penn National Gaming by 6.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock worth $159,000 after purchasing an additional 482 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Penn National Gaming during the 2nd quarter worth about $206,000. Finally, Royal Bank of Canada raised its stake in shares of Penn National Gaming by 209.1% during the 2nd quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after purchasing an additional 6,692 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.

Get a free copy of the Zacks research report on Penn National Gaming (PENN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

Receive News & Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.