Jefferies Group assumed coverage on shares of Penn National Gaming (NASDAQ:PENN) in a research note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
Several other equities analysts also recently commented on the stock. Deutsche Bank boosted their price target on shares of Penn National Gaming from $29.00 to $32.00 in a research note on Monday, December 18th. Barclays boosted their price target on shares of Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Morgan Stanley boosted their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price objective on shares of Penn National Gaming in a research report on Monday, December 18th. Finally, Telsey Advisory Group cut shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 price objective for the company. in a research report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Penn National Gaming has a consensus rating of “Buy” and a consensus target price of $26.55.
Penn National Gaming (PENN) traded up $0.56 during trading hours on Thursday, hitting $32.75. 572,400 shares of the company’s stock traded hands, compared to its average volume of 844,582. The firm has a market capitalization of $2,934.52, a P/E ratio of 3.76 and a beta of 1.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. Penn National Gaming has a fifty-two week low of $13.00 and a fifty-two week high of $32.98.
Several institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of Penn National Gaming by 182.5% during the 4th quarter. Acadian Asset Management LLC now owns 413,906 shares of the company’s stock worth $12,968,000 after purchasing an additional 267,415 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Penn National Gaming in the fourth quarter valued at $1,131,000. California Public Employees Retirement System lifted its position in Penn National Gaming by 14.0% in the third quarter. California Public Employees Retirement System now owns 211,180 shares of the company’s stock valued at $4,940,000 after acquiring an additional 25,980 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Penn National Gaming by 51.9% in the third quarter. Janney Montgomery Scott LLC now owns 16,720 shares of the company’s stock valued at $391,000 after acquiring an additional 5,714 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in Penn National Gaming by 0.6% in the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock valued at $129,155,000 after acquiring an additional 35,400 shares during the last quarter. 97.53% of the stock is owned by institutional investors and hedge funds.
About Penn National Gaming
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.
