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

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) was the recipient of unusually large options trading on Friday. Traders bought 31,360 call options on the company. This is an increase of 66% compared to the typical volume of 18,906 call options.

PENN Entertainment Trading Down 0.8 %

Shares of PENN traded down $0.13 during mid-day trading on Tuesday, reaching $16.18. The company's stock had a trading volume of 647,855 shares, compared to its average volume of 4,494,596. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $23.08. The stock has a market cap of $2.47 billion, a PE ratio of -4.56, a P/E/G ratio of 1.55 and a beta of 2.19. The company's fifty day moving average price is $19.60 and its two-hundred day moving average price is $19.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

Analysts Set New Price Targets

Several research analysts have commented on PENN shares. Benchmark restated a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. StockNews.com raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Stifel Nicolaus lowered their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company boosted their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Finally, JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $23.56.

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Hedge Funds Weigh In On PENN Entertainment

A number of large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PENN Entertainment by 33.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company's stock worth $5,244,000 after buying an additional 65,596 shares during the period. Tidal Investments LLC increased its stake in PENN Entertainment by 11.7% in the 4th quarter. Tidal Investments LLC now owns 16,626 shares of the company's stock worth $330,000 after purchasing an additional 1,738 shares during the period. Sender Co & Partners Inc. lifted its position in PENN Entertainment by 99.5% in the fourth quarter. Sender Co & Partners Inc. now owns 34,011 shares of the company's stock valued at $674,000 after purchasing an additional 16,967 shares during the last quarter. Shay Capital LLC bought a new stake in PENN Entertainment in the fourth quarter valued at approximately $1,067,000. Finally, Man Group plc boosted its stake in shares of PENN Entertainment by 25.0% during the fourth quarter. Man Group plc now owns 1,398,998 shares of the company's stock valued at $27,728,000 after purchasing an additional 279,726 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

About PENN Entertainment

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.