Penn National Gaming, Inc (NASDAQ:PENN) Director Sells $1,391,000.00 in Stock

Penn National Gaming, Inc (NASDAQ:PENN) Director Saul Reibstein sold 20,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $69.55, for a total value of $1,391,000.00. Following the completion of the transaction, the director now owns 54,181 shares of the company’s stock, valued at $3,768,288.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Saul Reibstein also recently made the following trade(s):

  • On Wednesday, August 12th, Saul Reibstein sold 5,000 shares of Penn National Gaming stock. The shares were sold at an average price of $50.19, for a total value of $250,950.00.
  • On Thursday, July 16th, Saul Reibstein sold 33,636 shares of Penn National Gaming stock. The stock was sold at an average price of $35.07, for a total value of $1,179,614.52.

NASDAQ:PENN traded down $5.36 during trading hours on Wednesday, reaching $69.00. 6,245,291 shares of the company’s stock were exchanged, compared to its average volume of 10,067,892. The company has a market capitalization of $9.50 billion, a P/E ratio of -9.36 and a beta of 2.84. Penn National Gaming, Inc has a 12 month low of $3.75 and a 12 month high of $76.62. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 4.81. The business’s 50-day simple moving average is $56.10 and its two-hundred day simple moving average is $31.73.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, August 6th. The company reported ($1.69) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.06) by $0.37. The firm had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $242.94 million. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The firm’s revenue for the quarter was down 76.9% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Penn National Gaming, Inc will post -1.39 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of PENN. Eminence Capital LP bought a new stake in Penn National Gaming during the first quarter worth approximately $27,535,000. Vanguard Group Inc. boosted its stake in Penn National Gaming by 15.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,072,067 shares of the company’s stock worth $368,681,000 after purchasing an additional 1,628,758 shares during the period. Bamco Inc. NY boosted its stake in Penn National Gaming by 13.2% in the 2nd quarter. Bamco Inc. NY now owns 12,142,267 shares of the company’s stock worth $370,825,000 after purchasing an additional 1,418,799 shares during the period. JPMorgan Chase & Co. boosted its stake in Penn National Gaming by 82.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,442,676 shares of the company’s stock worth $18,250,000 after purchasing an additional 650,627 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new position in Penn National Gaming in the 2nd quarter worth approximately $19,710,000. Hedge funds and other institutional investors own 87.81% of the company’s stock.

A number of analysts have recently commented on the company. Barclays upped their price objective on Penn National Gaming from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Stifel Nicolaus upped their price target on shares of Penn National Gaming from $47.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Susquehanna Bancshares cut shares of Penn National Gaming from a “positive” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 9th. BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Morgan Stanley cut shares of Penn National Gaming from an “overweight” rating to an “equal weight” rating and set a $55.00 price target on the stock. in a research report on Friday, August 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.34.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Insider Buying and Selling by Quarter for Penn National Gaming (NASDAQ:PENN)

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