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

PENN Entertainment, Inc. (NASDAQ:PENN) was the target of unusually large options trading activity on Monday. Stock investors acquired 34,719 call options on the stock. This represents an increase of approximately 45% compared to the average daily volume of 24,022 call options.

Insiders Place Their Bets

In other PENN Entertainment news, Director Jane Scaccetti acquired 4,400 shares of the company’s stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $22.83 per share, for a total transaction of $100,452.00. Following the purchase, the director now directly owns 63,414 shares of the company’s stock, valued at $1,447,741.62. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jane Scaccetti bought 4,400 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $22.83 per share, for a total transaction of $100,452.00. Following the transaction, the director now owns 63,414 shares of the company’s stock, valued at $1,447,741.62. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Felicia Hendrix bought 11,162 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average price of $22.41 per share, with a total value of $250,140.42. Following the completion of the transaction, the chief financial officer now directly owns 27,975 shares in the company, valued at approximately $626,919.75. The disclosure for this purchase can be found here. Insiders acquired 16,000 shares of company stock worth $360,583 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of PENN Entertainment in the 2nd quarter valued at $27,000. Signaturefd LLC boosted its stake in shares of PENN Entertainment by 58.0% in the 1st quarter. Signaturefd LLC now owns 962 shares of the company’s stock valued at $29,000 after purchasing an additional 353 shares during the last quarter. International Assets Investment Management LLC bought a new position in PENN Entertainment during the third quarter worth $29,000. TCI Wealth Advisors Inc. boosted its stake in PENN Entertainment by 20,040.0% during the first quarter. TCI Wealth Advisors Inc. now owns 1,007 shares of the company’s stock worth $30,000 after acquiring an additional 1,002 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in PENN Entertainment by 2,528.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock worth $32,000 after acquiring an additional 1,264 shares in the last quarter. 82.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PENN shares. Truist Financial dropped their target price on shares of PENN Entertainment from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price objective on shares of PENN Entertainment in a research report on Friday. Morgan Stanley lowered their price objective on shares of PENN Entertainment from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 13th. StockNews.com began coverage on shares of PENN Entertainment in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Craig Hallum cut shares of PENN Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $56.00 to $30.00 in a research report on Thursday, August 10th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.67.

PENN Entertainment Trading Up 6.5 %

PENN traded up $1.60 during trading on Monday, reaching $26.17. 6,505,492 shares of the company’s stock were exchanged, compared to its average volume of 3,755,035. PENN Entertainment has a one year low of $18.35 and a one year high of $36.66. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $3.97 billion, a PE ratio of -22.92, a price-to-earnings-growth ratio of 1.58 and a beta of 2.13. The firm has a fifty day moving average price of $21.87 and a two-hundred day moving average price of $23.82.

PENN Entertainment Company Profile

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