Insider Buying: John M. Jacquemin Purchases 20,000 Shares of Penn National Gaming Stock (PENN)
Penn National Gaming (NASDAQ:PENN) Director John M. Jacquemin acquired 20,000 shares of Penn National Gaming stock on the open market in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $10.74 per share, with a total value of $214,800.00. Following the transaction, the director now directly owns 133,595 shares in the company, valued at approximately $1,434,810. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on PENN. Analysts at Morgan Stanley downgraded shares of Penn National Gaming from an “equal weight” rating to an “underweight” rating in a research note on Thursday. They now have a $10.00 price target on the stock, down previously from $12.00. Separately, analysts at Bank of America reiterated an “underperform” rating on shares of Penn National Gaming in a research note on Monday, April 28th. They now have a $11.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Penn National Gaming in a research note on Friday, April 25th. They now have a $15.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.74.
Penn National Gaming (NASDAQ:PENN) traded up 2.32% on Monday, hitting $11.48. 517,510 shares of the company’s stock traded hands. Penn National Gaming has a 52-week low of $10.26 and a 52-week high of $15.50. The stock has a 50-day moving average of $11.96 and a 200-day moving average of $12.87. The company’s market cap is $900.7 million. Penn National Gaming also was the recipient of a significant decrease in short interest in April. As of April 30th, there was short interest totalling 2,159,443 shares, a decrease of 33.9% from the April 15th total of 3,268,158 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 1,648,009 shares, the short-interest ratio is presently 1.3 days.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.05. The company had revenue of $641.10 million for the quarter, compared to the consensus estimate of $651.00 million. During the same quarter last year, the company posted $0.69 earnings per share. Penn National Gaming’s revenue was down 19.7% compared to the same quarter last year. Analysts expect that Penn National Gaming will post $0.14 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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