Why should you buy stock in Penn National Gaming Inc. (PENN)?

Penn National Gaming Inc. (NASDAQ: PENN) is 20.66% higher on its value in year-to-date trading and has touched a low of $3.75 and a high of $106.80 in the current 52-week trading range. The PENN stock was last observed hovering at around $104.21 in the last trading session, with the day’s loss setting it -0.23% off its average median price target of $88.00 for the next 12 months. It is also 9.58% off the consensus price target high of $115.00 offered by 16 analysts, but current levels are -235.42% lower than the price target low of $31.00 for the same period.

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Currently trading at $103.98, the stock is 13.40% and 33.73% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.32 million and changing -0.22% at the moment leaves the stock 109.82% off its SMA200. PENN registered 286.25% gain for a year compared to 6-month gain of 202.85%. The firm has a 50-day simple moving average (SMA 50) of $84.50 and a 200-day simple moving average (SMA200) of $61.71.

The stock witnessed a 40.03% loss in the last 1 month and extending the period to 3 months gives it a 53.41%, and is 16.81% up 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 8.35% over the week and 7.14% over the month.

Penn National Gaming Inc. (PENN) has around 28300 employees, a market worth around $15.11B and $3.89B in sales. Fwd P/E is 65.25. Profit margin for the company is -19.90%. Distance from 52-week low is 2672.80% and -2.64% 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”. 16 analysts offering their recommendations for the stock have an average rating of 2.30, where 6 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 04/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.32 with sales reaching $1.1B over the same period.The EPS is expected to shrink by -60.00% this year, but quarterly earnings will post -30.90% year-over-year. Quarterly sales are estimated to shrink -17.60% in year-over-year returns.

Penn National Gaming Inc. (PENN) Top Institutional Holders

549 institutions hold shares in Penn National Gaming Inc. (PENN), with 6.81M shares held by insiders accounting for 4.40% while institutional investors hold 93.37% of the company’s shares. The shares outstanding are 155.32M, and float is at 147.78M with Short Float at 8.93%. Institutions hold 89.26% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 20.48 million shares valued at $1.49 billion. The investor’s holdings represent 13.19% of the PENN Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 16.68 million shares valued at $1.21 billion to account for 10.74% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 13.13 million shares representing 8.45% and valued at over $954.35 million, while BAMCO Inc. holds 7.52% of the shares totaling 11.69 million with a market value of $849.56 million.

Penn National Gaming Inc. (PENN) Insider Activity

A total of 106 insider transactions have happened at Penn National Gaming Inc. (PENN) in the last six months, with sales accounting for 59 and purchases happening 47 times. The most recent transaction is an insider sale by Reibstein Saul, the company’s Director. SEC filings show that Reibstein Saul sold 6,579 shares of the company’s common stock on Jan 05 at a price of $82.06 per share for a total of $0.54 million. Following the sale, the insider now owns 28344.0 shares.

Penn National Gaming Inc. disclosed in a document filed with the SEC on Dec 21 that LaBombard Christine (SVP and CAO) sold a total of 6,732 shares of the company’s common stock. The trade occurred on Dec 21 and was made at $91.00 per share for $0.61 million. Following the transaction, the insider now directly holds 12320.0 shares of the PENN stock.

Still, SEC filings show that on Dec 08, HANDLER DAVID A (Chairman of the Board) disposed off 55,000 shares at an average price of $75.05 for $4.13 million. The insider now directly holds 163,906 shares of Penn National Gaming Inc. (PENN).

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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 19.28% up over the past 12 months. Boyd Gaming Corporation (BYD) is 66.83% up on the 1-year trading charts. Short interest in the company’s stock has fallen -11.45% from the last report on Nov 29, 2020 to stand at a total of 14.31 million short shares sold with a short interest ratio of 2.96.

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