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

PENN Entertainment, Inc. (NASDAQ:PENN) was the target of some unusual options trading on Tuesday. Traders purchased 25,071 call options on the stock. This represents an increase of approximately 39% compared to the average volume of 17,984 call options.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of recent research reports. Macquarie boosted their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, November 8th. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Bank of America assumed coverage on PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price on the stock. Finally, Morgan Stanley decreased their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.44.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after purchasing an additional 1,052 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in PENN Entertainment during the 3rd quarter worth about $45,000. GAMMA Investing LLC boosted its stake in shares of PENN Entertainment by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares during the last quarter. Quest Partners LLC bought a new position in shares of PENN Entertainment in the 3rd quarter valued at about $56,000. Finally, Modus Advisors LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at about $63,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 0.2 %

PENN opened at $20.86 on Thursday. The firm’s fifty day simple moving average is $19.85 and its 200 day simple moving average is $19.43. The stock has a market capitalization of $3.18 billion, a P/E ratio of -5.88, a P/E/G ratio of 1.52 and a beta of 2.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $23.81.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that PENN Entertainment will post -1.63 EPS for the current fiscal year.

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.