Penn National Gaming (NASDAQ:PENN)'s stock had its "overweight" rating reissued by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday, Benzinga reports.
Other analysts have also issued research reports about the company. Truist raised their target price on Penn National Gaming from $120.00 to $135.00 in a report on Friday, February 5th. Piper Sandler raised their target price on Penn National Gaming from $100.00 to $128.00 and gave the stock an "overweight" rating in a research report on Thursday, February 4th. KeyCorp started coverage on Penn National Gaming in a research report on Wednesday, January 13th. They set a "sector weight" rating for the company. The Goldman Sachs Group lifted their price objective on Penn National Gaming from $86.00 to $124.00 and gave the company a "buy" rating in a research report on Tuesday, January 26th. Finally, Morgan Stanley lifted their target price on Penn National Gaming from $98.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, February 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company's stock. The stock has an average rating of "Hold" and an average price target of $87.53.
Shares of NASDAQ PENN traded down $4.84 during mid-day trading on Tuesday, hitting $112.98. 192,405 shares of the company traded hands, compared to its average volume of 4,502,722. Penn National Gaming has a 1 year low of $3.75 and a 1 year high of $129.00. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of -16.70 and a beta of 2.79. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 2.47. The business has a 50 day moving average of $107.57 and a two-hundred day moving average of $77.12.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Penn National Gaming had a negative return on equity of 8.73% and a negative net margin of 19.86%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the company posted ($0.80) earnings per share. The firm's revenue was down 23.4% on a year-over-year basis. As a group, research analysts anticipate that Penn National Gaming will post 0.41 EPS for the current year.
In other news, Chairman Peter M. Carlino sold 3,000,000 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $123.80, for a total transaction of $371,400,000.00. Following the sale, the chairman now owns 596,453 shares in the company, valued at $73,840,881.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Saul Reibstein sold 10,000 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $124.98, for a total transaction of $1,249,800.00. Following the sale, the director now owns 38,344 shares in the company, valued at approximately $4,792,233.12. The disclosure for this sale can be found here. Insiders have sold a total of 3,366,716 shares of company stock valued at $398,640,017 over the last 90 days. Company insiders own 1.81% of the company's stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENN. AlphaMark Advisors LLC purchased a new position in Penn National Gaming during the fourth quarter valued at $26,000. Archer Investment Corp bought a new stake in shares of Penn National Gaming in the 4th quarter worth about $37,000. Crewe Advisors LLC lifted its holdings in shares of Penn National Gaming by 65.1% in the 4th quarter. Crewe Advisors LLC now owns 444 shares of the company's stock worth $38,000 after acquiring an additional 175 shares during the last quarter. Institutional & Family Asset Management LLC lifted its holdings in shares of Penn National Gaming by 45.8% in the 4th quarter. Institutional & Family Asset Management LLC now owns 446 shares of the company's stock worth $39,000 after acquiring an additional 140 shares during the last quarter. Finally, JFS Wealth Advisors LLC bought a new stake in shares of Penn National Gaming in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 87.48% of the company's stock.
About Penn National Gaming
Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.
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