What’s Propelling Penn National Gaming, Inc. (PENN) to Reach 52-Week High?

May 20, 2018 - By Kurt Siggers

Penn National Gaming, Inc. (NASDAQ:PENN) Logo

Investors sentiment decreased to 1.04 in Q4 2017. Its down 0.31, from 1.35 in 2017Q3. It fall, as 29 investors sold Penn National Gaming, Inc. shares while 70 reduced holdings. 48 funds opened positions while 55 raised stakes. 84.87 million shares or 3.29% less from 87.76 million shares in 2017Q3 were reported.
State Of Tennessee Treasury Department holds 0.01% or 65,719 shares in its portfolio. Pnc Group stated it has 5,549 shares. Shellback Cap Ltd Partnership has 413,646 shares for 0.97% of their portfolio. Moreover, Rafferty Asset Mngmt Ltd Llc has 0.05% invested in Penn National Gaming, Inc. (NASDAQ:PENN) for 94,515 shares. Van Eck Associates accumulated 17,067 shares. Stifel invested 0.01% in Penn National Gaming, Inc. (NASDAQ:PENN). Bluemar Capital Ltd invested 1.03% in Penn National Gaming, Inc. (NASDAQ:PENN). 170,155 are owned by Legal & General Public Ltd. State Teachers Retirement accumulated 58,488 shares. Citadel Lc stated it has 177,852 shares. Ameritas Prtnrs Inc has invested 0.01% in Penn National Gaming, Inc. (NASDAQ:PENN). Three Peaks Management Limited Liability Corporation invested in 0.77% or 165,000 shares. Parametric Port Limited Liability Corporation has 258,463 shares for 0.01% of their portfolio. Par Mgmt accumulated 1.81 million shares or 0.63% of the stock. Moreover, Teacher Retirement Systems Of Texas has 0.01% invested in Penn National Gaming, Inc. (NASDAQ:PENN) for 29,742 shares.

Since February 9, 2018, it had 2 insider purchases, and 2 sales for $5.32 million activity. Another trade for 10,560 shares valued at $274,349 was made by Snowden Jay A on Friday, March 2. $3.12M worth of Penn National Gaming, Inc. (NASDAQ:PENN) shares were sold by WILMOTT TIMOTHY J.

The stock of Penn National Gaming, Inc. (NASDAQ:PENN) hit a new 52-week high and has $37.29 target or 7.00 % above today’s $34.85 share price. The 6 months bullish chart indicates low risk for the $3.19B company. The 1-year high was reported on May, 20 by Barchart.com. If the $37.29 price target is reached, the company will be worth $223.02M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 1.69% or $0.6 during the last trading session, reaching $34.85. About 1.35 million shares traded. Penn National Gaming, Inc. (NASDAQ:PENN) has risen 43.04% since May 20, 2017 and is uptrending. It has outperformed by 31.49% the S&P500.

Analysts await Penn National Gaming, Inc. (NASDAQ:PENN) to report earnings on July, 26. They expect $0.49 earnings per share, up 172.22 % or $0.31 from last year’s $0.18 per share. PENN’s profit will be $44.80M for 17.78 P/E if the $0.49 EPS becomes a reality. After $0.48 actual earnings per share reported by Penn National Gaming, Inc. for the previous quarter, Wall Street now forecasts 2.08 % EPS growth.

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

Among 6 analysts covering Penn National Gaming (NASDAQ:PENN), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Penn National Gaming had 12 analyst reports since January 19, 2018 according to SRatingsIntel. Deutsche Bank maintained the stock with “Buy” rating in Friday, February 9 report. On Friday, February 9 the stock rating was maintained by Jefferies with “Buy”. The rating was maintained by Morgan Stanley with “Equal-Weight” on Monday, April 30. SunTrust maintained Penn National Gaming, Inc. (NASDAQ:PENN) rating on Monday, February 5. SunTrust has “Hold” rating and $36.0 target. The stock has “Buy” rating by SunTrust on Thursday, April 26. The stock has “Buy” rating by Susquehanna on Tuesday, February 6. Deutsche Bank maintained Penn National Gaming, Inc. (NASDAQ:PENN) on Monday, January 22 with “Buy” rating. The rating was maintained by Morgan Stanley with “Equal-Weight” on Friday, February 9. The rating was maintained by Morgan Stanley with “Equal-Weight” on Tuesday, April 24. Deutsche Bank maintained it with “Buy” rating and $3700 target in Thursday, April 26 report.

More notable recent Penn National Gaming, Inc. (NASDAQ:PENN) news were published by: Seekingalpha.com which released: “Post-earnings rip for Penn National Gaming” on April 26, 2018, also Seekingalpha.com with their article: “4 Gaming Stocks For Second Half Of 2018” published on May 17, 2018, Seekingalpha.com published: “Spotlight On Gambling Reset And Banking Bill” on May 19, 2018. More interesting news about Penn National Gaming, Inc. (NASDAQ:PENN) were released by: Seekingalpha.com and their article: “Solid results from Pinnacle as merger approaches” published on May 09, 2018 as well as Seekingalpha.com‘s news article titled: “All eyes on sports betting plays” with publication date: May 15, 2018.

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 has market cap of $3.19 billion. The firm operates through Northeast, South/West, and Midwest divisions. It has a 6.87 P/E ratio. As of December 31, 2016, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

Penn National Gaming, Inc. (NASDAQ:PENN) Institutional Positions Chart

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