Penn National Gaming (PENN) Price Target Increased to $32.00 by Analysts at Deutsche Bank

Penn National Gaming (NASDAQ:PENN) had its price objective boosted by equities researchers at Deutsche Bank from $29.00 to $32.00 in a research note issued to investors on Monday. Deutsche Bank’s price objective indicates a potential upside of 7.78% from the stock’s current price.

A number of other equities analysts have also recently weighed in on PENN. BidaskClub raised Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Saturday. TheStreet raised Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Telsey Advisory Group lifted their price objective on Penn National Gaming from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Saturday, October 7th. Finally, Barclays lifted their price objective on Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.18.

Penn National Gaming (NASDAQ PENN) traded up $0.44 during midday trading on Monday, hitting $29.69. The stock had a trading volume of 4,011,600 shares, compared to its average volume of 1,255,148. Penn National Gaming has a 12 month low of $13.00 and a 12 month high of $29.84. The firm has a market capitalization of $2,704.64, a PE ratio of 40.12, a price-to-earnings-growth ratio of 7.54 and a beta of 1.04. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82.

In other Penn National Gaming news, CEO Timothy J. Wilmott sold 1,661 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $24.01, for a total transaction of $39,880.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jay A. Snowden sold 110,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $25.07, for a total value of $2,757,700.00. Following the sale, the insider now directly owns 46,281 shares of the company’s stock, valued at approximately $1,160,264.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,913 shares of company stock valued at $8,328,884. Company insiders own 10.17% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. GRT Capital Partners L.L.C. grew its position in Penn National Gaming by 0.5% during the second quarter. GRT Capital Partners L.L.C. now owns 19,086 shares of the company’s stock valued at $408,000 after acquiring an additional 86 shares during the period. Amalgamated Bank grew its position in Penn National Gaming by 3.8% during the second quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock valued at $235,000 after acquiring an additional 405 shares during the period. Ameritas Investment Partners Inc. grew its position in Penn National Gaming by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after acquiring an additional 482 shares during the period. Turner Investments LLC grew its position in Penn National Gaming by 6.3% during the second quarter. Turner Investments LLC now owns 17,000 shares of the company’s stock valued at $364,000 after acquiring an additional 1,000 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Penn National Gaming by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 436,175 shares of the company’s stock valued at $9,334,000 after acquiring an additional 1,587 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

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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 operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.