Price Action Alert: Is Penn National Gaming, Inc a Sell? The Stock Reaches 1 Year Low Today

Price Action Alert: Is Penn National Gaming, Inc a Sell? The Stock Reaches 1 Year Low Today

The stock of Penn National Gaming, Inc (NASDAQ:PENN) hit a new 52-week low and has $11.26 target or 6.00% below today’s $11.98 share price. The 6 months bearish chart indicates high risk for the $950.00 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $11.26 price target is reached, the company will be worth $57.00 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 470,048 shares traded hands. Penn National Gaming, Inc (NASDAQ:PENN) has declined 27.80% since April 1, 2016 and is downtrending. It has underperformed by 29.02% the S&P500.

Penn National Gaming, Inc (NASDAQ:PENN) Ratings Coverage

Out of 5 analysts covering Penn National Gaming (NASDAQ:PENN), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Penn National Gaming has been the topic of 10 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, February 5, the company rating was maintained by Telsey Advisory Group. The rating was downgraded by Bank of America on Tuesday, January 12 to “Neutral”. Telsey Advisory Group maintained Penn National Gaming, Inc (NASDAQ:PENN) rating on Friday, July 29. Telsey Advisory Group has “Outperform” rating and $21 price target. The rating was upgraded by Telsey Advisory Group on Tuesday, January 19 to “Outperform”. The stock has “Outperform” rating given by Telsey Advisory Group on Friday, October 28. The stock of Penn National Gaming, Inc (NASDAQ:PENN) earned “Buy” rating by Stifel Nicolaus on Friday, February 5.

According to Zacks Investment Research, “Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations.”

Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.32, from 1.34 in 2016Q1. The ratio is negative, as 22 funds sold all Penn National Gaming, Inc shares owned while 60 reduced positions. 31 funds bought stakes while 53 increased positions. They now own 82.51 million shares or 3.32% more from 79.86 million shares in 2016Q1.
Addison Clark Mngmt Ltd Limited Liability Company holds 274,037 shares or 6.03% of its portfolio. Riggs Asset Managment Com Inc accumulated 800 shares or 0.01% of the stock. Teachers Advsr last reported 119,728 shares in the company. Blackrock Investment Mgmt Limited Liability Corporation holds 285,301 shares or 0.01% of its portfolio. Frontier Investment has 0.24% invested in the company for 139,264 shares. Systematic Fincl Management Lp owns 485,175 shares or 0.09% of their US portfolio. Vanguard Gru has invested 0% of its portfolio in Penn National Gaming, Inc (NASDAQ:PENN). Prescott Group Inc Mngmt Limited Liability Co holds 0.35% or 102,750 shares in its portfolio. Renaissance Technologies Llc holds 2.43 million shares or 0.06% of its portfolio. Blackrock Grp holds 0% or 85,446 shares in its portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Penn National Gaming, Inc (NASDAQ:PENN) for 1,605 shares. Metropolitan Life Insur Ny last reported 0.01% of its portfolio in the stock. Whittier Tru last reported 0% of its portfolio in the stock. First Allied Advisory Services reported 49,202 shares or 0.04% of all its holdings. Invesco has 3.26 million shares for 0.02% of their US portfolio.

Insider Transactions: Since May 24, 2016, the stock had 1 insider buy, and 0 selling transactions for $14,680 net activity. NAPLES RONALD J bought $14,680 worth of Penn National Gaming, Inc (NASDAQ:PENN) on Tuesday, May 24.

More news for Penn National Gaming, Inc (NASDAQ:PENN) were recently published by: Fool.com, which released: “Penn National Gaming, Inc’s Profit Jumps on U.S. Gaming Growth” on April 28, 2016. Businesswire.com‘s article titled: “Penn National Gaming Acquires Leading Social Casino Game Developer, Rocket …” and published on August 03, 2016 is yet another important article.

PENN Company Profile

Penn National Gaming, Inc. (Penn), incorporated on December 16, 1982, is an owner and manager of gaming and racing facilities and video gaming terminal activities with a focus on slot machine entertainment. The Company’s divisions include the East/Midwest, the West and the Southern Plains segment. The East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway, Hollywood Gaming at Mahoning Valley Race Course, and Plainridge Park Casino. It also includes the Company’s Casino Rama management service contract. The West segment consists of various properties, which include Zia Park Casino, M Resort, Tropicana Las Vegas and Hollywood Casino Jamul-San Diego project. The Southern Plains segment consists of various properties, including Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Argosy Casino Riverside, Hollywood Casino Tunica, Hollywood Casino Gulf Coast, Boomtown Biloxi, Hollywood Casino St. Louis and Prairie State Gaming, and includes the Company’s investment in Kansas Entertainment, LLC, which owns the Hollywood Casino at Kansas Speedway. The Other category consists of the Company’s standalone racing operations, Rosecroft Raceway, Sanford-Orlando Kennel Club, and the Company’s joint venture interests in Sam Houston Race Park, Valley Race Park and Freehold Raceway.

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