Penn National Gaming, Inc (NASDAQ:PENN) CFO William J. Fair bought 11,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $19.54 per share, for a total transaction of $214,940.00. Following the acquisition, the chief financial officer now owns 46,998 shares in the company, valued at approximately $918,340.92. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of PENN traded up $0.41 during trading hours on Wednesday, hitting $20.32. The company had a trading volume of 1,703,300 shares, compared to its average volume of 1,936,753. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $2.32 billion, a PE ratio of 21.92, a P/E/G ratio of 1.35 and a beta of 1.85. Penn National Gaming, Inc has a 52-week low of $17.30 and a 52-week high of $36.90.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. Penn National Gaming’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. As a group, sell-side analysts anticipate that Penn National Gaming, Inc will post 1.47 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC grew its position in Penn National Gaming by 21.4% in the third quarter. TIAA CREF Investment Management LLC now owns 2,158,753 shares of the company’s stock valued at $71,066,000 after purchasing an additional 380,577 shares in the last quarter. Retirement Systems of Alabama bought a new position in Penn National Gaming in the fourth quarter valued at $2,641,000. Fox Run Management L.L.C. bought a new position in shares of Penn National Gaming in the 4th quarter valued at about $536,000. Virtu Financial LLC bought a new position in shares of Penn National Gaming in the 4th quarter valued at about $226,000. Finally, Boston Advisors LLC grew its position in shares of Penn National Gaming by 19.0% in the 4th quarter. Boston Advisors LLC now owns 171,796 shares of the company’s stock valued at $3,235,000 after acquiring an additional 27,422 shares during the period. 94.63% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently commented on PENN shares. Morgan Stanley upgraded shares of Penn National Gaming from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $25.00 to $27.00 in a report on Thursday, May 9th. Nomura upgraded shares of Penn National Gaming from a “neutral” rating to a “buy” rating and set a $24.17 target price on the stock in a report on Thursday, January 17th. BidaskClub cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. Bank of America upgraded shares of Penn National Gaming from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. Finally, ValuEngine cut shares of Penn National Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.60.
Penn National Gaming Company Profile
Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.
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