Penn National Gaming (PENN) Gets a Buy Rating from Rosenblatt Securities

Rosenblatt Securities analyst Bernie McTernan maintained a Buy rating on Penn National Gaming (PENN) yesterday. The company’s shares closed last Thursday at $73.00.

According to, McTernan is a 4-star analyst with an average return of 19.2% and a 66.0% success rate. McTernan covers the Services sector, focusing on stocks such as Charter Communications, Peloton Interactive, and World Wrestling.

Penn National Gaming has an analyst consensus of Moderate Buy, with a price target consensus of $59.06, representing a -11.2% downside. In a report issued on September 8, Merrill Lynch also reiterated a Buy rating on the stock with a $59.75 price target.

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Based on Penn National Gaming’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $306 million and GAAP net loss of $214 million. In comparison, last year the company earned revenue of $1.32 billion and had a net profit of $51.4 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PENN in relation to earlier this year. Last month, Saul Reibstein, a Director at PENN sold 36,000 shares for a total of $1,786,570.

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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, West and Midwest.. The Northeast segment consists of the following properties: Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway, Hollywood Gaming at Mahoning Valley Race Course, and Plain ridge Park Casino. The South and West segment comprises of the following properties: Zia Park Casino, Hollywood Casino Tunica, Hollywood Casino Gulf Coast, Boomtown Biloxi, M Resort, Tropicana Las Vegas, 1st Jackpot and Resorts. The Midwest segment controls the following properties: Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Argosy Casino Riverside, Hollywood Casino Lawrenceburg, Hollywood Casino St. Louis, and Prairie State Gaming. The company was founded in 1982 and is headquartered in Wyomissing, PA.

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