Sunday, June 26, 2022

Checking in on Penn National Gaming Inc. (PENN) after recent insiders movement

Penn National Gaming Inc.’s filing revealed that its Director SCACCETTI JANE acquired Company’s shares for reported $98167.0 on Feb 17. In the deal valued at $49.70 per share,1,975 shares were bought. As a result of this transaction, SCACCETTI JANE now holds 50,569 shares worth roughly $ 1.41 million.


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Then, Snowden Jay A sold 148,387 shares, generating $11,460,568 in total proceeds. Upon selling the shares at $77.23, the President and CEO now owns 530,496 shares.

Before that, Snowden Jay A sold 14,900 shares. Penn National Gaming Inc. shares valued at $1,198,854 were divested by the President and CEO at a price of $80.46 per share. As a result of the transaction, Snowden Jay A now holds 530,496 shares, worth roughly $14.78 million.

Following these proceedings, Jefferies upgraded its Penn National Gaming Inc. [PENN] rating to a Buy from a a Hold in a research note published on Tuesday. PT values the company’s stock at a premium of 43.12 to its Tuesday closing price. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late April from “an Equal-weight” to “an Overweight”. Susquehanna also remained covering PENN and has increased its forecast on February 09, 2022 with a “Positive” recommendation from previously “Neutral” rating. Loop Capital revised its rating on February 04, 2022. It rated PENN as “a Hold” which previously was an “a Sell”.

Price Performance Review of PENN

On Tuesday, Penn National Gaming Inc. [NASDAQ:PENN] saw its stock jump 1.72% to $27.87. On the same session, the stock had its day’s lowest price of $27.12, but rose to a high of $28.66. Over the last five days, the stock has lost -2.21%. Penn National Gaming Inc. shares have fallen nearly -46.25% since the year began. Nevertheless, the stocks have fallen -63.34% over the past one year. While a 52-week high of $86.40 was reached on 01/03/22, a 52-week low of $26.46 was recorded on 06/17/22. SMA at 50 days reached $33.47, while 200 days put it at $50.26. A total of 4.43 million shares were traded, compared to the trading of 6.9 million shares in the previous session.

Levels Of Support And Resistance For PENN Stock

The 24-hour chart illustrates a support level at 27.11, which if violated will result in even more drops to 26.34. On the upside, there is a resistance level at 28.65. A further resistance level may holdings at 29.42. The Relative Strength Index (RSI) on the 14-day chart is 38.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.94%. Stochastics %K at 12.49% indicates the stock is a buying.

How much short interest is there in Penn National Gaming Inc.?

A steep rise in short interest was recorded in Penn National Gaming Inc. stocks on Apr 28, 2022, dropping by -0.17 million shares to a total of 11.05 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 11.22 million shares. There was a decline of -1.54%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.70% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.99.

Penn National Gaming Inc. [PENN] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 17,449,234 shares, or roughly 10.46% of the outstanding PENN shares. In other words, the investor’s shares have fallen by -1,054,041 from its previous 13-F filing of 18503275.0. Additionally, The Vanguard Group, Inc. increased 0.11% of its stake after which the total value it holdings stand at $553,956,480, while BAMCO, Inc. reduced -0.46% of its stake to hold $339.3 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 296,178 shares of Penn National Gaming Inc., while BlackRock Advisors LLC bought 643,332 shares. At present, SSgA Funds Management, Inc. is holding 5,434,491 shares valued at $173.69 million. Invesco Advisers, Inc. owned 4,257,766 shares of the company at the time of its most recent 13F filing, worth $136.08 million.

According to FactSet, Penn National Gaming Inc.’s share price will average $56.56 in the next year, based on opinions of analysts polled by the firm. This is up nearly 104.38 percent from its previous closing price of $27.40. Analysts expect Penn National Gaming Inc. stock to reach the higher price of $80.00, while the lowest price estimate is $38.00. However, 20 analysts have rated PENN stock as an Overweight in their predictions for 2022.

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