Penn National Gaming Sees Unusually High Options Volume (PENN)

Penn National Gaming, Inc (NASDAQ:PENN) saw some unusual options trading activity on Thursday. Traders bought 3,491 call options on the company. This is an increase of approximately 1,424% compared to the typical daily volume of 229 call options.

Shares of Penn National Gaming (NASDAQ:PENN) opened at $32.90 on Friday. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $3,060.00, a PE ratio of 3.77 and a beta of 1.38. Penn National Gaming has a one year low of $13.00 and a one year high of $32.98.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. Penn National Gaming had a net margin of 26.16% and a negative return on equity of 20.51%. sell-side analysts anticipate that Penn National Gaming will post 0.71 EPS for the current fiscal year.

PENN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 target price on shares of Penn National Gaming in a research report on Monday, December 18th. Union Gaming Research upped their target price on shares of Penn National Gaming to $35.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Deutsche Bank upped their target price on shares of Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. Finally, Jefferies Group initiated coverage on shares of Penn National Gaming in a research note on Thursday. They set a “buy” rating and a $39.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Penn National Gaming presently has a consensus rating of “Buy” and an average price target of $27.58.

A number of large investors have recently modified their holdings of PENN. Ameritas Investment Partners Inc. increased its stake in shares of Penn National Gaming by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock worth $159,000 after buying an additional 482 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Penn National Gaming during the second quarter worth approximately $206,000. Royal Bank of Canada increased its stake in shares of Penn National Gaming by 209.1% during the second quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after buying an additional 6,692 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Penn National Gaming by 82.8% during the third quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock worth $214,000 after buying an additional 4,138 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Penn National Gaming by 3.8% during the second quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock worth $235,000 after buying an additional 405 shares during the period. Institutional investors own 97.53% of the company’s stock.

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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.

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