PENN Entertainment Target of Unusually Large Options Trading (NASDAQ:PENN)

PENN Entertainment, Inc. (NASDAQ:PENN) saw some unusual options trading activity on Wednesday. Investors purchased 29,869 call options on the company. This represents an increase of approximately 36% compared to the average daily volume of 21,899 call options.

PENN Entertainment Stock Up 2.4 %

PENN Entertainment stock opened at $17.84 on Thursday. The company’s 50 day simple moving average is $17.65 and its 200 day simple moving average is $21.39. PENN Entertainment has a fifty-two week low of $15.88 and a fifty-two week high of $31.63. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -4.90 and a beta of 2.06. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, sell-side analysts anticipate that PENN Entertainment will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Macquarie dropped their target price on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Morgan Stanley increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays lowered their price objective on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Benchmark assumed coverage on shares of PENN Entertainment in a research report on Tuesday, April 16th. They issued a “hold” rating for the company. Finally, Mizuho assumed coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PENN. Huntington National Bank raised its holdings in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the period. Harbor Investment Advisory LLC acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $32,000. Lindbrook Capital LLC raised its holdings in PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares during the period. Neo Ivy Capital Management acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $40,000. Finally, Signaturefd LLC raised its holdings in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after purchasing an additional 727 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.