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. Stock traders acquired 30,243 call options on the company. This represents an increase of approximately 110% compared to the average volume of 14,427 call options.

Analyst Ratings Changes

A number of research firms have recently issued reports on PENN. StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Wells Fargo & Company boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Craig Hallum reissued a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a research note on Tuesday, October 8th. Finally, Barclays reduced their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PENN. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment during the third quarter valued at approximately $45,000. GAMMA Investing LLC boosted its holdings 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 valued at $51,000 after buying an additional 1,275 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment in the 3rd quarter worth about $56,000. International Assets Investment Management LLC increased its stake in shares of PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after acquiring an additional 3,057 shares in the last quarter. Finally, Quarry LP lifted its position in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after acquiring an additional 1,862 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $19.82 on Thursday. The business has a 50 day moving average of $20.01 and a 200 day moving average of $19.32. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $26.53. The company has a market cap of $3.03 billion, a PE ratio of -5.58 and a beta of 2.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. PENN Entertainment’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that PENN Entertainment will post -1.55 earnings per share for the current 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.