Penn National Gaming, Inc (NASDAQ:PENN) was the recipient of some unusual options trading activity on Thursday. Investors acquired 3,634 call options on the company. This is an increase of approximately 998% compared to the typical daily volume of 331 call options.

Hedge funds have recently made changes to their positions in the company. Earnest Partners LLC acquired a new position in Penn National Gaming during the third quarter worth $36,544,000. Hennessy Advisors Inc. acquired a new position in Penn National Gaming during the fourth quarter worth $35,347,000. Lord Abbett & CO. LLC acquired a new position in Penn National Gaming during the second quarter worth $20,760,000. Renaissance Technologies LLC increased its holdings in Penn National Gaming by 384.9% during the second quarter. Renaissance Technologies LLC now owns 929,500 shares of the company’s stock worth $19,891,000 after buying an additional 737,800 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Penn National Gaming by 113.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,344,104 shares of the company’s stock worth $42,111,000 after buying an additional 714,928 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

PENN has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Telsey Advisory Group lowered shares of Penn National Gaming from an “outperform” rating to a “market perform” rating and set a $26.00 price target on the stock. in a research note on Friday, October 27th. Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Finally, Barclays boosted their price objective on shares of Penn National Gaming from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.09.

Shares of Penn National Gaming (NASDAQ:PENN) opened at $27.56 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 18.36. The company has a market cap of $2,471.42, a price-to-earnings ratio of 5.23 and a beta of 1.05. Penn National Gaming has a 1 year low of $13.73 and a 1 year high of $33.30.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($3.40) EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). The business had revenue of $769.00 million during the quarter, compared to the consensus estimate of $766.82 million. Penn National Gaming had a negative return on equity of 22.76% and a net margin of 15.97%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. research analysts forecast that Penn National Gaming will post 1.39 EPS for the current year.

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Penn National Gaming Company Profile

Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.

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