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

PENN Entertainment, Inc. (NASDAQ:PENN) was the recipient of unusually large options trading activity on Friday. Stock investors bought 31,360 call options on the company. This is an increase of approximately 66% compared to the typical daily volume of 18,906 call options.

PENN Entertainment Trading Down 1.2 %

PENN opened at $16.92 on Friday. The firm’s fifty day moving average is $19.68 and its two-hundred day moving average is $19.59. The firm has a market cap of $2.59 billion, a PE ratio of -4.77, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

Wall Street Analyst Weigh In

PENN has been the subject of a number of research analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, February 28th. Mizuho boosted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Wells Fargo & Company lifted their target price on PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.56.

Institutional Trading of PENN Entertainment

Several hedge funds have recently added to or reduced their stakes in PENN. IFP Advisors Inc increased 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 worth $31,000 after acquiring an additional 1,052 shares in the last quarter. Quest Partners LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at approximately $56,000. Modus Advisors LLC bought a new stake in PENN Entertainment during the 4th quarter worth approximately $63,000. Lee Danner & Bass Inc. bought a new stake in PENN Entertainment during the 4th quarter worth approximately $92,000. Finally, KBC Group NV raised its holdings in PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock worth $109,000 after buying an additional 1,470 shares during the period. Institutional investors and hedge funds 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.