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

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) was the recipient of some unusual options trading on Friday. Stock investors purchased 29,715 call options on the stock. This represents an increase of 62% compared to the typical daily volume of 18,317 call options.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. DME Capital Management LP increased its holdings in shares of PENN Entertainment by 2.3% in the 4th quarter. DME Capital Management LP now owns 5,748,440 shares of the company's stock worth $113,934,000 after buying an additional 127,670 shares during the last quarter. Invesco Ltd. increased its holdings in shares of PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock worth $76,941,000 after buying an additional 848,066 shares during the last quarter. Geode Capital Management LLC increased its stake in PENN Entertainment by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company's stock valued at $49,572,000 after acquiring an additional 152,791 shares during the last quarter. Kettle Hill Capital Management LLC increased its stake in PENN Entertainment by 43.1% in the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company's stock valued at $35,711,000 after acquiring an additional 542,585 shares during the last quarter. Finally, Contrarius Group Holdings Ltd bought a new position in PENN Entertainment in the fourth quarter valued at $34,994,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN traded down $0.99 on Friday, hitting $18.28. The company's stock had a trading volume of 6,782,670 shares, compared to its average volume of 4,525,789. The company has a market capitalization of $2.80 billion, a PE ratio of -5.15, a PEG ratio of 1.55 and a beta of 2.19. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50-day simple moving average of $20.41 and a 200 day simple moving average of $19.79. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $23.08.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PENN shares. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $19.00 to $27.00 in a research report on Friday, December 13th. Macquarie reissued an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, February 28th. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Finally, StockNews.com raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $23.69.

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.