Investors Buy Large Volume of Call Options on Penn National Gaming (PENN)
Penn National Gaming (NASDAQ:PENN) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 259 call options on the company, Analyst Ratings Network.com reports. This represents an increase of approximately 154% compared to the typical daily volume of 102 call options.
PENN has been the subject of a number of recent research reports. Analysts at Susquehanna cut their price target on shares of Penn National Gaming from $16.00 to $13.00 in a research note on Friday, August 8th. They now have a “positive” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Penn National Gaming in a research note on Friday, July 25th. They now have a $15.00 price target on the stock, up previously from $14.00. Finally, analysts at Telsey Advisory Group cut their price target on shares of Penn National Gaming from $13.00 to $12.00 in a research note on Friday, July 25th. They now have a “not rated” rating on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.00.
Shares of Penn National Gaming (NASDAQ:PENN) traded up 0.27% on Monday, hitting $11.29. The stock had a trading volume of 633,585 shares. Penn National Gaming has a one year low of $10.07 and a one year high of $15.50. The stock’s 50-day moving average is $10.93 and its 200-day moving average is $11.71. The company’s market cap is $886.3 million.
Penn National Gaming (NASDAQ:PENN) last released its earnings data on Thursday, July 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.04. The company had revenue of $652.10 million for the quarter, compared to the consensus estimate of $643.91 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Analysts expect that Penn National Gaming will post $0.05 EPS for the current fiscal year.
Penn National Gaming, Inc (NASDAQ:PENN) is a diversified owner and manager of gaming and pari-mutuel properties.
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