Company shares last traded at $26.09 just above $23.74, the stock’s 50 day moving average and much higher than the 200 day moving average of $21.28. The 50 day moving average was up by +9.92% whereas the 200 day moving average was up $4.81 or +22.61%. Trading volume for Penn National Gaming, Inc. was 920K by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 17.74% under the normal average daily volume.
Investors are a little more bullish lately looking at the motion in short interest. The company had a fall in short interest of -0.51% between September 29, 2017 and October 13, 2017. Short shares fell from 10,853,011 to 10,798,059 over that timeframe. The short-interest ratio decreased to 11.0 and the percentage of shorted shares was 0.12% on October 13.
These firms have modified their investment in PENN. Peregrine Capital Management LLC downsized its position by shedding 403,026 shares a decrease of 50.8% as of 09/30/2017. Peregrine Capital Management LLC owns 390,004 shares with a value of $9,122,000. The total value of its holdings decreased 46.2%. As of the end of the quarter Victory Capital Management Inc had bought 4,217 shares growing its stake by 0.2%. The value of the investment in (PENN) went from $45,416,000 to $49,738,000 a change of $4,322,000 for the reporting period.
As of quarter end Parkside Financial Bank & Trust had acquired a total of 279 shares growing its holdings by 516.7%. The value in dollars increased from $1,000 to $8,000 increasing 700.0% since the last quarter. As of quarter end Aperio Group, LLC had bought a total of 277 shares growing its position 2.7%. The value of the total investment in Penn National Gaming, Inc. went from $220,000 to $247,000 a change of 12.3% quarter over quarter.
October 24 investment analysts at Morgan Stanley held the company rating at “Equal-Weight” and raised the price target to $26.00 from $16.00. On October 27, 2017 the stock rating was set at “Market Perform” by Telsey Advisory Group a cut from the previous “Market Perform” rating.
The company’s P/E ratio is 32.78 and market cap is 2.38B. In the last earnings report the EPS was $0.80 and is estimated to be $7.22 for the current year with 91,059,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.36 with next year’s EPS projected to be $1.20.
Penn National Gaming, Inc. (Penn), launched on December 16, 1982, 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. As of December 31, 2016, the Company operated 27 facilities in 17 jurisdictions, including Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, California and Ontario..