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

PENN Entertainment, Inc. (NASDAQ:PENN) saw unusually large options trading activity on Wednesday. Investors acquired 29,869 call options on the stock. This is an increase of 36% compared to the average daily volume of 21,899 call options.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $17.19 on Friday. The firm’s 50 day simple moving average is $17.61 and its 200-day simple moving average is $21.36. The company has a market cap of $2.62 billion, a P/E ratio of -4.72 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 fifty-two week low of $15.88 and a fifty-two week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. As a group, equities research analysts predict that PENN Entertainment will post -0.87 EPS for the current year.

Institutional Trading of PENN Entertainment

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank lifted its stake in PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after acquiring an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $32,000. Lindbrook Capital LLC lifted its stake in PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after acquiring an additional 553 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $40,000. Finally, Signaturefd LLC lifted its stake in PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after acquiring an additional 727 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PENN shares. Truist Financial upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Barclays reduced their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Stifel Nicolaus cut their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

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.