Redburn lifts Penn National Gaming Inc. [PENN] price estimate. Who else is bullish?

Penn National Gaming Inc. [NASDAQ: PENN] price plunged by -0.90 percent to reach at -$0.81. The company report on May 3, 2021 that Penn National Gaming to Launch Penn Game Studios.

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Company to Acquire HitPoint Studios and LuckyPoint to Accelerate In-house Game Development and Content Creation.

Penn National Gaming, Inc. (Nasdaq: PENN)(“Penn National” or the “Company”) announced that it has established Penn Game Studios (“PGS”), an in-house content development team focused on creating exclusive iCasino content for its customers. To fuel this effort, the Company is acquiring HitPoint Studios, Inc. (“HitPoint”) and its spun-off real money gaming company, LuckyPoint Inc. (“LuckyPoint”). The acquisition is expected to close in the near term, subject to the satisfaction of customary closing conditions.

A sum of 5059747 shares traded at recent session while its average daily volume was at 5.18M shares. Penn National Gaming Inc. shares reached a high of $90.02 and dropped to a low of $85.13 until finishing in the latest session at $89.66.

The one-year PENN stock forecast points to a potential upside of 18.54. 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 $110.07 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.

Redburn have made an estimate for Penn National Gaming Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 27, 2021. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on April 27, 2021, representing the official price target for Penn National Gaming Inc. stock. Previously, the target price had yet another raise from $120 to $150, while Craig Hallum kept a Buy rating on PENN stock.

The Average True Range (ATR) for Penn National Gaming Inc. is set at 4.99, with the Price to Sales ratio for PENN stock in the period of the last 12 months amounting to 4.02. The Price to Book ratio for the last quarter was 5.29, with the Price to Cash per share for the same quarter was set at 11.56. Price to Free Cash Flow for PENN in the course of the last twelve months was 71.22 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 -3.23. With this latest performance, PENN shares dropped by -16.08% in over the last four-week period, additionally plugging by 66.10% over the last 6 months – not to mention a rise of 474.38% 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 37.57, with the RSI for the last a single of trading hit 35.61, and the three-weeks RSI is set at 40.27 for Penn National Gaming Inc. [PENN]. The present Moving Average for the last 50 days of trading for this stock 107.07, while it was recorded at 90.67 for the last single week of trading, and 81.60 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 +5.99 and a Gross Margin at +37.56. Penn National Gaming Inc.’s Net Margin is presently recorded at -18.71.

Return on Total Capital for PENN is now 1.59, given the latest momentum, and Return on Invested Capital for the company is -5.05. Return on Equity for this stock declined to -29.70, with Return on Assets sitting at -4.12. 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 420.05. Additionally, PENN Total Debt to Total Capital is recorded at 80.77, with Total Debt to Total Assets ending up at 65.15. Long-Term Debt to Equity for the company is recorded at 414.18, with the Long-Term Debt to Total Capital now at 78.95.

Reflecting on the efficiency of the workforce at the company, Penn National Gaming Inc. [PENN] managed to generate an average of -$36,543 per employee. Receivables Turnover for the company is 38.67 with a Total Asset Turnover recorded at a value of 0.22.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 -5.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5,744.40%. 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 $12,619 million, or 89.80% of PENN stock, in the hands of institutional investors. The top three institutional holders of PENN stocks are: FMR LLC with ownership of 20,554,133, which is approximately 0.354% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 19,263,581 shares of the stock with an approximate value of $1.74 billion in PENN stocks shares; and VANGUARD GROUP INC, currently with $1.25 billion in PENN stock with ownership of nearly 5.644% of the company’s market capitalization.

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Positions in Penn National Gaming Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 310 institutional holders increased their position in Penn National Gaming Inc. [NASDAQ:PENN] by around 13,871,954 shares. Additionally, 214 investors decreased positions by around 12,200,919 shares, while 62 investors held positions by with 113,410,575 shares. The mentioned changes placed institutional holdings at 139,483,448 shares, according to the latest SEC report filing. PENN stock had 137 new institutional investments in for a total of 2,565,021 shares, while 60 institutional investors sold positions of 4,276,365 shares during the same period.

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