Penn National Gaming, Inc. (NASDAQ: PENN) CEO Jay A. Snowden Sells 148,387 Shares
Penn National Gaming, Inc. (NASDAQ: PENN) CEO Jay A. Snowden sold 148,387 shares of the company in a trade that took place on Monday, October 4. The stock was sold at an average price of $ 77.23, for a total trade of $ 11,459,928.01. The sale was disclosed in a file with the SEC, accessible through this hyperlink.
PENN shares traded down $ 0.90 during trading hours on Wednesday, reaching $ 71.62. The company had a trading volume of 5,639,243 shares, compared to an average volume of 4,762,828. Penn National Gaming, Inc. has a 12-month low of $ 52.09 and a 12-month high of $ 142.00 . The company has a debt to equity ratio of 2.16, a current ratio of 2.66 and a rapid ratio of 2.66. The company has a fifty-day simple moving average of $ 74.54 and a 200-day simple moving average of $ 81.29. The company has a market cap of $ 11.23 billion, a price-to-earnings ratio of 26.33 and a beta of 2.55.
Penn National Gaming (NASDAQ: PENN) last released its quarterly results on Thursday, August 5. The company reported EPS of $ 1.17 for the quarter, beating the Zacks consensus estimate of $ 0.93 by $ 0.24. The company posted revenue of $ 1.55 billion in the quarter, compared to a consensus estimate of $ 1.50 billion. Penn National Gaming had a return on equity of 16.24% and a net margin of 8.89%. Penn National Gaming’s revenue grew 406.0% year-over-year. During the same period last year, the company posted earnings per share ($ 1.69). On average, equity research analysts expect Penn National Gaming, Inc. to post earnings per share of 3.21 for the current year.
Institutional investors and hedge funds have recently changed their holdings of equities. Geode Capital Management LLC increased its stake in Penn National Gaming by 40.3% during the first quarter. Geode Capital Management LLC now owns 3,386,546 shares of the company valued at $ 354,592,000 after purchasing an additional 972,871 shares during the last quarter. Fred Alger Management LLC increased its stake in Penn National Gaming by 179.3% during the first quarter. Fred Alger Management LLC now owns 1,404,741 shares of the company valued at $ 147,273,000 after purchasing an additional 901,788 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Penn National Gaming by 1,354.6% during the second quarter. BNP Paribas Arbitrage SA now owns 782,191 shares of the company valued at $ 59,830,000 after purchasing 728,417 additional shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Penn National Gaming during the second quarter valued at approximately $ 54,685,000. Finally, Thrivent Financial for Lutherans increased its equity stake in Penn National Gaming by 592.5% in the second quarter. Thrivent Financial for Lutherans now owns 706,946 shares of the company worth $ 54,074,000 after purchasing an additional 604,863 shares in the last quarter. 83.16% of the shares are held by institutional investors.
PENN has been the subject of a number of recent analyst reports. Capital One Financial launched coverage on Penn National Gaming shares in a research note on Wednesday, September 1. They issued an “overweight” rating on the stock. The Goldman Sachs group lowered its target price on Penn National Gaming from $ 149.00 to $ 124.00 and set a “buy” rating for the company in a report released on Wednesday, July 28. Wells Fargo & Company provided coverage on Penn National Gaming in a report on Tuesday, September 14. They issued an “equal weight” rating and a target price of $ 82.00 for the company. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “keep” rating and set a price target of $ 75.00 for the company. in a research note on Tuesday August 10. Finally, Needham & Company LLC lowered its price target for Penn National Gaming from $ 151.00 to $ 115 and set a “buy” rating for the company in a research note on Friday, August 6. One analyst rated the stock with a sell rating, four assigned a conservation rating, and eleven assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $ 112.13.
Penn National Gaming Company Profile
Penn National Gaming, Inc. owns and operates gaming and racing facilities and video game terminal operations with an emphasis on slot machine entertainment. It operates in the following business segments: Northeast, South, West and Midwest, and Others. The Northeast segment includes properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.
Further Reading: How Does The Beige Book Influence Monetary Policy?
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should You Invest $ 1,000 In Penn National Gaming Right Now?
Before you consider Penn National Gaming, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Penn National Gaming was not on the list.
While Penn National Gaming currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here