The EVP & CFO of Penn National Gaming (NASDAQ: PENN) is Buying Shares

By Carrie Williams

Today, the EVP & CFO of Penn National Gaming (PENNResearch Report), William J. Fair, bought shares of PENN for $214.9K.

Following this transaction William J. Fair’s holding in the company was increased by 30.56% to a total of $935.7K. In addition to William J. Fair, one other PENN executive reported Buy trades in the last month.

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Based on Penn National Gaming’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.28 billion and quarterly net profit of $40.99 million. In comparison, last year the company earned revenue of $816 million and had a net profit of $45.44 million. PENN’s market cap is $2.33B and the company has a P/E ratio of 21.58. Currently, Penn National Gaming has an average volume of 1.7M.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $29.80, reflecting a 46.7% upside. Starting in April 2019, PENN received 6 Buy ratings in a row. Five different firms, including Merrill Lynch and Deutsche Bank, currently also have a Buy rating on the stock.

The insider sentiment on Penn National Gaming has been positive according to 62 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

William J. Fair’s trades have generated a -7.9% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Penn National Gaming, Inc. owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast; South and West; Midwest; and Other.