Insider Selling: Penn National Gaming Director Sells 140,000 Shares of Stock (PENN)
Penn National Gaming (NASDAQ:PENN) Director Harold Cramer sold 140,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $55.61, for a total value of $7,785,400.00. Following the completion of the sale, the director now directly owns 82,195 shares in the company, valued at approximately $4,570,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Penn National Gaming (NASDAQ:PENN) traded up 0.89% on Friday, hitting $55.33. 532,831 shares of the company’s stock traded hands. Penn National Gaming has a 1-year low of $37.00 and a 1-year high of $59.93. The stock’s 50-day moving average is $54.66 and its 200-day moving average is $54.59. The company has a market cap of $4.344 billion and a price-to-earnings ratio of 47.07.
Penn National Gaming (NASDAQ:PENN) last released its earnings data on Tuesday, July 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis.
PENN has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.58.
Penn National Gaming, Inc (NASDAQ:PENN) is a diversified owner and manager of gaming and pari-mutuel properties.
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