Penn National Gaming (NASDAQ:PENN) Downgraded to “Sell” at BidaskClub

Penn National Gaming (NASDAQ:PENN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, September 27th, BidAskClub reports.

PENN has been the topic of a number of other research reports. Wolfe Research began coverage on Penn National Gaming in a research note on Friday, June 14th. They set a “peer perform” rating on the stock. Susquehanna Bancshares began coverage on Penn National Gaming in a research note on Wednesday, July 24th. They issued a “positive” rating and a $25.00 price target on the stock. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley set a $27.00 price target on Penn National Gaming and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, TheStreet upgraded Penn National Gaming from a “c+” rating to a “b-” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.77.

Shares of NASDAQ:PENN traded up $0.58 during midday trading on Friday, reaching $19.10. The company’s stock had a trading volume of 1,327,718 shares, compared to its average volume of 1,352,550. The business has a 50 day moving average price of $19.18 and a 200 day moving average price of $19.59. Penn National Gaming has a 1 year low of $16.72 and a 1 year high of $30.15. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 5.89. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.72.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.10. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 60.0% compared to the same quarter last year. Sell-side analysts anticipate that Penn National Gaming will post 1.57 earnings per share for the current fiscal year.

In related news, Director David A. Handler acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $17.68 per share, for a total transaction of $530,400.00. Following the transaction, the director now owns 169,870 shares of the company’s stock, valued at $3,003,301.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Saul Reibstein bought 3,000 shares of Penn National Gaming stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $17.30 per share, with a total value of $51,900.00. The disclosure for this purchase can be found here. Company insiders own 8.53% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. LPL Financial LLC grew its position in shares of Penn National Gaming by 14.4% in the second quarter. LPL Financial LLC now owns 13,721 shares of the company’s stock valued at $264,000 after purchasing an additional 1,730 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Penn National Gaming by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 38,113 shares of the company’s stock valued at $734,000 after purchasing an additional 881 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Penn National Gaming in the second quarter valued at about $1,465,000. BBT Capital Management LLC acquired a new stake in shares of Penn National Gaming in the second quarter valued at about $507,000. Finally, ETRADE Capital Management LLC lifted its stake in shares of Penn National Gaming by 2.9% in the second quarter. ETRADE Capital Management LLC now owns 35,586 shares of the company’s stock valued at $685,000 after buying an additional 1,018 shares during the period. 99.39% of the stock is currently owned by hedge funds and other institutional investors.

About Penn National Gaming

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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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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