Penn National Gaming (NASDAQ:PENN) Trading 14.2% Higher

Penn National Gaming, Inc (NASDAQ:PENN) shares traded up 14.2% on Wednesday . The company traded as high as $14.39 and last traded at $15.09, 866,168 shares changed hands during mid-day trading. A decline of 92% from the average session volume of 10,272,286 shares. The stock had previously closed at $13.21.

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank restated a “hold” rating and issued a $32.00 price objective on shares of Penn National Gaming in a report on Monday, February 10th. BidaskClub upgraded shares of Penn National Gaming from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Penn National Gaming from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Penn National Gaming from to in a report on Friday, February 7th. Finally, Nomura boosted their price objective on shares of Penn National Gaming from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Penn National Gaming presently has an average rating of “Buy” and an average target price of $32.00.

The company has a debt-to-equity ratio of 5.99, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50 day moving average is $25.89 and its 200 day moving average is $23.69. The company has a market capitalization of $1.54 billion, a PE ratio of 35.84 and a beta of 1.62.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, February 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.37 by $0.33. Penn National Gaming had a net margin of 0.83% and a return on equity of 2.33%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts predict that Penn National Gaming, Inc will post 2.21 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PENN. FMR LLC increased its stake in shares of Penn National Gaming by 66.9% in the fourth quarter. FMR LLC now owns 10,420,522 shares of the company’s stock worth $266,349,000 after buying an additional 4,178,605 shares during the period. Norges Bank purchased a new position in Penn National Gaming during the 4th quarter valued at $35,768,000. Great Lakes Advisors LLC purchased a new position in Penn National Gaming during the 4th quarter valued at $11,455,000. Peregrine Capital Management LLC purchased a new position in Penn National Gaming during the 4th quarter valued at $9,590,000. Finally, Millennium Management LLC increased its position in Penn National Gaming by 430.6% during the 3rd quarter. Millennium Management LLC now owns 361,352 shares of the company’s stock valued at $6,730,000 after purchasing an additional 293,252 shares during the period. 93.56% of the stock is currently owned by institutional investors.

About Penn National Gaming (NASDAQ:PENN)

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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