Investors Buy Penn National Gaming (PENN) on Weakness

Investors purchased shares of Penn National Gaming, Inc (NASDAQ:PENN) on weakness during trading hours on Thursday. $62.38 million flowed into the stock on the tick-up and $2.37 million flowed out of the stock on the tick-down, for a money net flow of $60.01 million into the stock. Of all companies tracked, Penn National Gaming had the 9th highest net in-flow for the day. Penn National Gaming traded down ($0.49) for the day and closed at $32.26

PENN has been the topic of several analyst reports. Deutsche Bank boosted their price target on shares of Penn National Gaming from $29.00 to $32.00 in a report on Monday, December 18th. Barclays upped their target price on shares of Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Morgan Stanley upped their target price on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 target price on shares of Penn National Gaming in a report on Monday, December 18th. Finally, Telsey Advisory Group lowered shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a report on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.55.

The stock has a market cap of $2,940.00, a PE ratio of 3.70 and a beta of 1.38. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 18.36.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. Penn National Gaming had a net margin of 26.16% and a negative return on equity of 20.51%. analysts forecast that Penn National Gaming, Inc will post 0.71 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in 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 buying an additional 482 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Penn National Gaming during the 2nd quarter worth about $206,000. Royal Bank of Canada lifted its position in 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 buying an additional 6,692 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Penn National Gaming by 82.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock valued at $214,000 after purchasing an additional 4,138 shares during the period. Finally, Amalgamated Bank lifted its position in Penn National Gaming by 3.8% during the 2nd quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock valued at $235,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 97.53% of the company’s stock.

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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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