Why are Institutional Investors Interested in Buying Penn National Gaming Inc. (PENN)?

Penn National Gaming Inc. (NASDAQ: PENN) is 32.43% higher on its value in year-to-date trading and has touched a low of $3.75 and a high of $40.14 in the current 52-week trading range. The PENN stock was last observed hovering at around $36.81 in the last trading session, with the day’s loss setting it -2.96% off its average median price target of $39.00 for the next 12 months. It is also 27.98% off the consensus price target high of $47.00 offered by 12 analysts, but current levels are -53.86% lower than the price target low of $22.00 for the same period.

Currently trading at $33.85, the stock is 3.72% and 5.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.59 million and changing -8.04% at the moment leaves the stock 37.60% off its SMA200. PENN registered 77.23% gain for a year compared to 6-month gain of 13.48%. The firm has a 50-day simple moving average (SMA 50) of $13.56% and a 200-day simple moving average (SMA200) of $19.16M.

The stock witnessed a 6.08% loss in the last 1 month and extending the period to 3 months gives it a 117.82%, and is -2.66% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.94% over the week and 7.92% over the month.

Penn National Gaming Inc. (PENN) has around 28300 employees, a market worth around $4.48B and $5.13B in sales. Fwd P/E is 4231.25. Profit margin for the company is -11.80%. Distance from 52-week low is 802.67% and -15.67% from its 52-week high. The company has generated returns on investments over the last 12 months (6.10%).

Penn National Gaming Inc. (PENN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Penn National Gaming Inc. (PENN) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Penn National Gaming Inc. is expected to release its quarterly report on 08/06/2020 and quarterly earnings per share for the current quarter are estimated at -$2.17 with sales reaching $231.09M over the same period.The EPS is expected to shrink by -60.00% this year, but quarterly earnings will post -41.10% year-over-year. Quarterly sales are estimated to shrink -82.50% in year-over-year returns.

Penn National Gaming Inc. (PENN) Top Institutional Holders

368 institutions hold shares in Penn National Gaming Inc. (PENN), with 7.69M shares held by insiders accounting for 6.62% while institutional investors hold 97.12% of the company’s shares. The shares outstanding are 115.70M, and float is at 110.07M with Short Float at 16.75%. Institutions hold 90.69% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 12.63 million shares valued at $159.77 million. The investor’s holdings represent 10.81% of the PENN Shares outstanding. As of Mar 30, 2020, the second largest holder is BAMCO Inc. with 10.72 million shares valued at $135.65 million to account for 9.18% of the shares outstanding. The other top investors are FMR, LLC which holds 10.51 million shares representing 9.00% and valued at over $132.9 million, while Vanguard Group, Inc. (The) holds 8.94% of the shares totaling 10.44 million with a market value of $132.11 million.

Penn National Gaming Inc. (PENN) Insider Activity

A total of 44 insider transactions have happened at Penn National Gaming Inc. (PENN) in the last six months, with sales accounting for 15 and purchases happening 29 times. The most recent transaction is an insider sale by Reibstein Saul, the company’s Director. SEC filings show that Reibstein Saul sold 33,636 shares of the company’s common stock on Jul 16 at a price of $35.07 per share for a total of $1.18 million. Following the sale, the insider now owns 40181.0 shares.

Penn National Gaming Inc. disclosed in a document filed with the SEC on Jul 15 that Sottosanti Carl (EVP, General Counsel and Sec.) sold a total of 132,641 shares of the company’s common stock. The trade occurred on Jul 15 and was made at $31.94 per share for $4.24 million. Following the transaction, the insider now directly holds 86548.0 shares of the PENN stock.

Still, SEC filings show that on May 13, SCACCETTI JANE (Director) acquired 2,777 shares at an average price of $18.00 for $49986.0. The insider now directly holds 37,140 shares of Penn National Gaming Inc. (PENN).

Penn National Gaming Inc. (PENN): Who are the competitors?

The company’s main competitors (and peers) include Monarch Casino & Resort Inc. (MCRI) that is trading -20.79% down over the past 12 months. Boyd Gaming Corporation (BYD) is -8.43% down on the 1-year trading charts.