Penn National Gaming Inc. [NASDAQ: PENN] price surged by 9.55 percent to reach at $9.33. The company report on January 19, 2021 that Penn National Gaming Set to Launch Barstool Sportsbook Mobile App and iCasino Products in Michigan.
Launch to Include Fundraiser for the Barstool Fund to Support Michigan Small Businesses Impacted by the COVID-19 Pandemic.
Penn National Gaming, Inc. (Nasdaq: PENN) (“Penn National” or the “Company”) announced that the Michigan Gaming Control Board (“MGCB”) has approved the Company’s applications to offer online sports wagering and iCasino products in Michigan. Penn National intends to officially launch its Barstool Sportsbook mobile app on iOS and android, as well as desktop at 12:00pm EST on Friday, January 22, 2021 and its iCasino products will follow shortly thereafter, subject to final regulatory approvals. This follows the opening of the Company’s retail Barstool Sportsbook at Greektown Casino Hotel (“Greektown”) in downtown Detroit on December 23, 2020.
A sum of 5628764 shares traded at recent session while its average daily volume was at 4.54M shares. Penn National Gaming Inc. shares reached a high of $110.85 and dropped to a low of $99.74 until finishing in the latest session at $107.03.
The one-year PENN stock forecast points to a potential downside of -16.02. The average equity rating for PENN stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Penn National Gaming Inc. [PENN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PENN shares is $92.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PENN stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Penn National Gaming Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 20, 2021. The new note on the price target was released on January 14, 2021, representing the official price target for Penn National Gaming Inc. stock.
The Average True Range (ATR) for Penn National Gaming Inc. is set at 7.43, with the Price to Sales ratio for PENN stock in the period of the last 12 months amounting to 4.18. The Price to Book ratio for the last quarter was 5.67, with the Price to Cash per share for the same quarter was set at 12.31. Price to Free Cash Flow for PENN in the course of the last twelve months was 54.11 with Quick ratio for the last quarter at 2.40.
PENN Stock Performance Analysis:
Penn National Gaming Inc. [PENN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.15. With this latest performance, PENN shares gained by 20.66% in over the last four-week period, additionally plugging by 186.02% over the last 6 months – not to mention a rise of 268.81% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PENN stock in for the last two-week period is set at 61.28, with the RSI for the last a single of trading hit 60.75, and the three-weeks RSI is set at 61.71 for Penn National Gaming Inc. [PENN]. The present Moving Average for the last 50 days of trading for this stock 86.16, while it was recorded at 103.53 for the last single week of trading, and 54.14 for the last 200 days.
Insight into Penn National Gaming Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Penn National Gaming Inc. [PENN] shares currently have an operating margin of +14.13 and a Gross Margin at +36.46. Penn National Gaming Inc.’s Net Margin is presently recorded at +0.83.
Return on Total Capital for PENN is now 6.38, given the latest momentum, and Return on Invested Capital for the company is 0.38. Return on Equity for this stock inclined to 3.40, with Return on Assets sitting at 0.31. When it comes to the capital structure of this company, Penn National Gaming Inc. [PENN] has a Total Debt to Total Equity ratio set at 611.45. Additionally, PENN Total Debt to Total Capital is recorded at 85.94, with Total Debt to Total Assets ending up at 73.64. Long-Term Debt to Equity for the company is recorded at 598.82, with the Long-Term Debt to Total Capital now at 84.17.
Reflecting on the efficiency of the workforce at the company, Penn National Gaming Inc. [PENN] managed to generate an average of $1,551 per employee. Receivables Turnover for the company is 54.22 with a Total Asset Turnover recorded at a value of 0.37.Penn National Gaming Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.
PENN Stock EPS
With the latest financial reports released by the company, Penn National Gaming Inc. posted 0.7/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 89.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PENN.
Penn National Gaming Inc. [PENN] Insider Position Details
There are presently around $14,577 million, or 89.40% of PENN stock, in the hands of institutional investors. The top three institutional holders of PENN stocks are: FMR LLC with ownership of 20,481,535, which is approximately 14.805% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 16,677,251 shares of the stock with an approximate value of $1.78 billion in PENN stocks shares; and VANGUARD GROUP INC, currently with $1.41 billion in PENN stock with ownership of nearly 8.741% of the company’s market capitalization.
Positions in Penn National Gaming Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 278 institutional holders increased their position in Penn National Gaming Inc. [NASDAQ:PENN] by around 29,200,733 shares. Additionally, 167 investors decreased positions by around 14,073,482 shares, while 43 investors held positions by with 92,918,701 shares. The mentioned changes placed institutional holdings at 136,192,916 shares, according to the latest SEC report filing. PENN stock had 136 new institutional investments in for a total of 12,690,327 shares, while 48 institutional investors sold positions of 2,644,060 shares during the same period.