PENN Entertainment Sees Unusually High Options Volume (NASDAQ:PENN)

PENN Entertainment, Inc. (NASDAQ:PENN) was the recipient of some unusual options trading activity on Tuesday. Investors bought 10,086 call options on the stock. This represents an increase of approximately 82% compared to the average daily volume of 5,550 call options.

Insider Activity at PENN Entertainment

In other news, Director Gupta Vimla Black sold 7,987 shares of PENN Entertainment stock in a transaction on Friday, November 14th. The stock was sold at an average price of $14.51, for a total transaction of $115,891.37. Following the completion of the transaction, the director owned 25,000 shares of the company’s stock, valued at $362,750. The trade was a 24.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Felicia Hendrix acquired 7,315 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $13.79 per share, with a total value of $100,873.85. Following the completion of the transaction, the chief financial officer directly owned 119,448 shares in the company, valued at approximately $1,647,187.92. The trade was a 6.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 62,015 shares of company stock worth $882,778 in the last ninety days. Corporate insiders own 2.67% of the company’s stock.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in PENN Entertainment by 152.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock valued at $25,000 after acquiring an additional 843 shares during the last quarter. Quarry LP acquired a new stake in shares of PENN Entertainment in the 1st quarter valued at about $30,000. Triumph Capital Management bought a new position in shares of PENN Entertainment during the third quarter worth about $54,000. State of Wyoming bought a new position in shares of PENN Entertainment during the first quarter worth about $46,000. Finally, Cloud Capital Management LLC bought a new position in PENN Entertainment during the 3rd quarter worth approximately $54,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

PENN opened at $14.37 on Thursday. PENN Entertainment has a twelve month low of $13.24 and a twelve month high of $23.08. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -2.26 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.65. The company has a fifty day simple moving average of $15.40 and a 200 day simple moving average of $17.27.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.59% and a negative net margin of 13.24%.The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned ($0.24) EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that PENN Entertainment will post -1.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Citizens Jmp dropped their price target on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. Wells Fargo & Company initiated coverage on shares of PENN Entertainment in a report on Tuesday, November 18th. They issued an “underweight” rating and a $15.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.56.

About PENN Entertainment

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.