Worth Watching: Is Penn National Gaming, Inc a Sell? The Stock Declines Again

Worth Watching: Is Penn National Gaming, Inc a Sell? The Stock Declines Again

The stock of Penn National Gaming, Inc (NASDAQ:PENN) is a huge mover today! The stock decreased 3.32% or $0.45 during the last trading session, hitting $13.12. About 749,986 shares traded hands. Penn National Gaming, Inc (NASDAQ:PENN) has declined 6.69% since March 1, 2016 and is downtrending. It has underperformed by 18.90% the S&P500.
The move comes after 6 months negative chart setup for the $1.09B company. It was reported on Oct, 4 by Barchart.com. We have $12.07 PT which if reached, will make NASDAQ:PENN worth $87.20M less.

Analysts await Penn National Gaming, Inc (NASDAQ:PENN) to report earnings on October, 27. PENN’s profit will be $24.09M for 11.31 P/E if the $0.29 EPS becomes a reality. After $0.37 actual earnings per share reported by Penn National Gaming, Inc for the previous quarter, Wall Street now forecasts -21.62% negative EPS growth.

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 9 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Bank of America downgraded Penn National Gaming, Inc (NASDAQ:PENN) on Tuesday, January 12 to “Neutral” rating. The company was maintained on Friday, July 29 by Telsey Advisory Group. The rating was upgraded by Telsey Advisory Group on Tuesday, January 19 to “Outperform”. The rating was maintained by Telsey Advisory Group with “Outperform” on Friday, February 5. Stifel Nicolaus maintained it with “Buy” rating and $20 target price in Friday, February 5 report.

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 Q2 2016. Its down 0.32, from 1.34 in 2016Q1. The ratio turned 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.
Renaissance Ltd Liability Corp has 2.43 million shares for 0.06% of their US portfolio. Van Eck Assoc Corporation has invested 0% of its portfolio in Penn National Gaming, Inc (NASDAQ:PENN). Campbell & Adviser Limited Liability Co has 35,657 shares for 2.51% of their US portfolio. Bridgeway Mgmt Inc has 0.06% invested in the company for 259,300 shares. Scopus Asset Limited Partnership last reported 1.55M shares in the company. The Japan-based Nomura has invested 0% in Penn National Gaming, Inc (NASDAQ:PENN). Ladenburg Thalmann Financial Service Inc reported 2,700 shares or 0% of all its holdings. Suntrust Banks holds 0% of its portfolio in Penn National Gaming, Inc (NASDAQ:PENN) for 12,742 shares. Checchi Capital Advisers Ltd has 0% invested in the company for 383 shares. California State Teachers Retirement System accumulated 0% or 156,320 shares. Spark Investment Management Lc, a New York-based fund reported 121,200 shares. Moreover, Fred Alger Mgmt has 0% invested in Penn National Gaming, Inc (NASDAQ:PENN) for 187 shares. The North Carolina-based Piedmont Inv Advsrs Limited Co has invested 0% in Penn National Gaming, Inc (NASDAQ:PENN). Voya Investment Management Lc last reported 35,419 shares in the company. Cipher Limited Partnership reported 360,728 shares or 0.35% of all its holdings.

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

More notable recent Penn National Gaming, Inc (NASDAQ:PENN) news were published by: Fool.com which released: “Penn National Gaming, Inc’s Profit Jumps on U.S. Gaming Growth” on April 28, 2016, also Fool.com with their article: “Why Penn National Gaming, Inc’s Shares Popped 21% in March” published on April 07, 2016, Businesswire.com published: “Penn National Gaming Acquires Leading Social Casino Game Developer, Rocket …” on August 03, 2016. More interesting news about Penn National Gaming, Inc (NASDAQ:PENN) were released by: Nasdaq.com and their article: “Penn National Gaming Inc Reports 1042% Gain In Q2 Bottom Line” published on July 28, 2016 as well as Seekingalpha.com‘s news article titled: “What Do You Do With Penn National Gaming?” with publication date: August 25, 2016.

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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