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Shares of Penn National Gaming (NASDAQ:PENN) were the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 2,159,443 shares, a drop of 33.9% from the April 15th total of 3,268,158 shares, American Banking reports. Based on an average daily volume of 1,648,009 shares, the days-to-cover ratio is currently 1.3 days. Approximately 3.1% of the company’s stock are short sold.

In other Penn National Gaming news, Director John Jacquemin acquired 20,000 shares of the company’s stock on the open market in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 133,595 shares of the company’s stock, valued at approximately $1,434,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PENN has been the subject of a number of recent research reports. 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, May 8th. 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 issued a hold rating and eight have given a buy rating to the company. Penn National Gaming presently has an average rating of “Hold” and an average target price of $21.74.

Shares of Penn National Gaming (NASDAQ:PENN) opened at 11.28 on Tuesday. Penn National Gaming has a 52-week low of $10.26 and a 52-week high of $15.50. The stock’s 50-day moving average is $11.8 and its 200-day moving average is $12.79. The company’s market cap is $885.0 million.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, April 24th. The company reported $0.05 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down 19.7% on a year-over-year basis. 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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