Insider Selling: Penn National Gaming VP Unloads 28,423 Shares of Stock (PENN)
Penn National Gaming (NASDAQ:PENN) VP Jordan Savitch unloaded 28,423 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $55.89, for a total transaction of $1,588,561.47. Following the completion of the transaction, the vice president now directly owns 48,292 shares of the company’s stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Penn National Gaming (NASDAQ:PENN) from a “hold” rating to a “sell” rating in a research note to investors on Monday, August 26th. Separately, analysts at Imperial Capital cut their price target on shares of Penn National Gaming (NASDAQ:PENN) from $60.00 to $58.00 in a research note to investors on Thursday, July 25th. Finally, analysts at RBC Capital cut their price target on shares of Penn National Gaming (NASDAQ:PENN) from $61.00 to $57.00 in a research note to investors on Wednesday, July 24th. They now have an “outperform” rating on the stock.
Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.58.
Shares of Penn National Gaming (NASDAQ:PENN) traded up 0.54% on Tuesday, hitting $55.75. The stock had a trading volume of 143,098 shares. Penn National Gaming has a 52-week low of $37.00 and a 52-week high of $59.93. The stock has a 50-day moving average of $53.06 and a 200-day moving average of $54.27. The company has a market cap of $4.377 billion and a P/E ratio of 47.60.
Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Tuesday, July 23rd. The company reported ($0.16) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.82. The company had revenue of $761.40 million for the quarter, compared to the consensus estimate of $790.10 million. During the same quarter last year, the company posted $0.63 earnings per share. Penn National Gaming’s revenue was up 6.8% compared to the same quarter last year. Analysts expect that Penn National Gaming will post $1.41 EPS for the current fiscal year.
Penn National Gaming, Inc (NASDAQ:PENN) is a diversified owner and manager of gaming and pari-mutuel properties.
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