Investors Buy Large Volume of Penn National Gaming Call Options (PENN)

Penn National Gaming, Inc (NASDAQ:PENN) saw unusually large options trading activity on Thursday. Stock investors bought 3,634 call options on the stock. This represents an increase of approximately 998% compared to the average daily volume of 331 call options.

Penn National Gaming (NASDAQ PENN) opened at $27.56 on Friday. The stock has a market cap of $2,471.42, a P/E ratio of 5.23 and a beta of 1.05. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. Penn National Gaming has a 1-year low of $13.73 and a 1-year high of $33.30.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). The firm had revenue of $769.00 million for the quarter, compared to analyst estimates of $766.82 million. Penn National Gaming had a net margin of 15.97% and a negative return on equity of 22.76%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. equities analysts forecast that Penn National Gaming will post 1.39 EPS for the current year.

Several equities research analysts have recently commented on PENN shares. Zacks Investment Research upgraded shares of Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Tuesday, January 9th. Jefferies Group started coverage on shares of Penn National Gaming in a research report on Thursday, January 18th. They set a “buy” rating and a $39.00 price target for the company. Deutsche Bank lifted their price target on shares of Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. BidaskClub cut shares of Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 5th. Finally, Barclays lifted 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 report on Monday, November 20th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.09.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Penn National Gaming by 5.8% during the second quarter. Vanguard Group Inc. now owns 7,344,994 shares of the company’s stock valued at $157,183,000 after purchasing an additional 405,172 shares during the period. Bamco Inc. NY grew its holdings in Penn National Gaming by 0.6% during the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock valued at $129,155,000 after purchasing an additional 35,400 shares during the period. State Street Corp grew its holdings in Penn National Gaming by 8.6% during the second quarter. State Street Corp now owns 1,971,391 shares of the company’s stock valued at $42,183,000 after purchasing an additional 156,455 shares during the period. Earnest Partners LLC bought a new position in Penn National Gaming in the third quarter valued at approximately $36,544,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Penn National Gaming by 113.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,344,104 shares of the company’s stock valued at $42,111,000 after buying an additional 714,928 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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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.

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