Shares of Penn National Gaming Inc. (NASDAQ:PENN) hit a new 52-week low during trading on Wednesday . The stock traded as low as $12.50 and last traded at $12.60, with a volume of 852,187 shares changing hands. The stock had previously closed at $12.72.

PENN has been the topic of several research analyst reports. Macquarie raised Penn National Gaming from a “neutral” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Thursday, June 30th. Zacks Investment Research lowered Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Telsey Advisory Group dropped their price objective on Penn National Gaming from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $18.00 price objective on shares of Penn National Gaming in a report on Thursday, May 26th. Finally, Morgan Stanley raised Penn National Gaming from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $15.00 to $16.00 in a report on Wednesday, June 1st. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Penn National Gaming currently has a consensus rating of “Buy” and an average target price of $18.86.

The company has a market cap of $1.05 billion, a PE ratio of 21.39 and a beta of 0.98. The company has a 50-day moving average price of $14.25 and a 200 day moving average price of $14.98.

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Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.09. Penn National Gaming had a negative return on equity of 8.21% and a net margin of 1.79%. The company had revenue of $769.40 million for the quarter, compared to analysts’ expectations of $785.06 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts forecast that Penn National Gaming Inc. will post $1.01 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new stake in Penn National Gaming during the first quarter worth $100,000. BNP Paribas Arbitrage SA boosted its stake in Penn National Gaming by 169.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,743 shares of the company’s stock worth $108,000 after buying an additional 4,866 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Penn National Gaming by 12.6% in the second quarter. Teacher Retirement System of Texas now owns 9,998 shares of the company’s stock worth $139,000 after buying an additional 1,119 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Penn National Gaming during the second quarter worth $142,000. Finally, Quantitative Investment Management LLC purchased a new stake in Penn National Gaming during the second quarter worth $147,000. Institutional investors own 99.52% of the company’s stock.

Penn National Gaming Company Profile

Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The Company’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.

5 Day Chart for NASDAQ:PENN

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