Traders Purchase High Volume of Call Options on PENN Entertainment (NASDAQ:PENN)

PENN Entertainment, Inc. (NASDAQ:PENN) was the target of some unusual options trading on Tuesday. Investors acquired 30,243 call options on the stock. This is an increase of approximately 110% compared to the average daily volume of 14,427 call options.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PENN shares. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Wells Fargo & Company lifted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their target price for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, Susquehanna dropped their price target on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors have recently modified their holdings of the stock. M&T Bank Corp raised its holdings in shares of PENN Entertainment by 4.2% during the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after acquiring an additional 497 shares in the last quarter. XTX Topco Ltd raised its stake in shares of PENN Entertainment by 2.8% during the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after purchasing an additional 641 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of PENN Entertainment by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock worth $328,000 after purchasing an additional 665 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of PENN Entertainment by 6.3% during the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after buying an additional 712 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of PENN Entertainment by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after buying an additional 944 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Trading Up 5.8 %

Shares of NASDAQ PENN opened at $19.82 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a one year low of $13.50 and a one year high of $26.53. The business has a 50-day moving average price of $19.99 and a two-hundred day moving average price of $19.31. The firm has a market capitalization of $3.03 billion, a PE ratio of -5.58 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that PENN Entertainment will post -1.55 earnings per share for the current fiscal year.

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.