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

PENN Entertainment, Inc. (NASDAQ:PENN) was the recipient of some unusual options trading on Wednesday. Stock traders bought 29,869 call options on the company. This is an increase of approximately 36% compared to the average volume of 21,899 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PENN shares. Macquarie cut their target price on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Truist Financial raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday. Barclays dropped their price objective on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Stifel Nicolaus dropped their price objective on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $17.84 on Thursday. The business has a fifty day moving average of $17.65 and a 200 day moving average of $21.39. 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 has a 1 year low of $15.88 and a 1 year high of $31.63.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts expect that PENN Entertainment will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kettle Hill Capital Management LLC purchased a new stake in shares of PENN Entertainment during the 3rd quarter valued at approximately $19,792,000. Source Financial Advisors LLC increased its holdings in PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after purchasing an additional 294,845 shares during the last quarter. Fred Alger Management LLC acquired a new stake in PENN Entertainment in the 3rd quarter valued at approximately $1,750,000. Sei Investments Co. increased its holdings in PENN Entertainment by 13.9% in the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in PENN Entertainment by 20.0% in the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after purchasing an additional 896 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.