PENN Entertainment Sees Unusually Large Options Volume (NASDAQ:PENN)

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 30,243 call options on the company. This represents an increase of 110% compared to the typical volume of 14,427 call options.

PENN Entertainment Stock Up 5.8 %

Shares of PENN stock traded up $1.09 during trading on Tuesday, hitting $19.82. 4,054,001 shares of the company were exchanged, compared to its average volume of 4,813,955. The business's 50-day simple moving average is $19.99 and its 200 day simple moving average is $19.31. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $26.53. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -5.58 and a beta of 2.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $1.21 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that PENN Entertainment will post -1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PENN. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC grew its position in PENN Entertainment by 88.5% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock worth $51,000 after acquiring an additional 1,275 shares in the last quarter. Quest Partners LLC acquired a new position in shares of PENN Entertainment during the 3rd quarter worth $56,000. International Assets Investment Management LLC lifted 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 valued at $61,000 after purchasing an additional 3,057 shares during the last quarter. Finally, Quarry LP boosted its holdings in PENN Entertainment by 76.7% in the second quarter. Quarry LP now owns 4,291 shares of the company's stock worth $83,000 after purchasing an additional 1,862 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PENN has been the topic of several research analyst reports. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research report on Friday, October 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. Barclays cut their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Susquehanna lowered their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a "positive" rating on the stock in a research note on Monday, November 4th. Finally, Mizuho cut their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.53.

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.