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

PENN Entertainment, Inc. (NASDAQ:PENN – Get Ratings) saw unusually high trading activity on Monday. Stock investors bought 14,498 call options on the stock. This represents an increase of approximately 80% compared to the normal daily volume of 8,075 call options.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of PENN Entertainment from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Friday, October 21st. Barclays upped their price objective on shares of PENN Entertainment from $37.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Credit Suisse Group reduced their price objective on shares of PENN Entertainment from $66.00 to $50.00 and set an “outperform” rating on the stock. in a research report on Friday, November 4th. StockNews.com lowered shares of PENN Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Trustist Financial reduced their price objective on shares of PENN Entertainment from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, PENN Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $55.42.

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PENN Entertainment Business Up 5.9%

Shares of PENN stock traded up $2.12 during trading hours on Monday, reaching $38.10. 478,166 shares of the stock exchanged hands, compared to its average volume of 4,035,278. PENN Entertainment has a 12-month low of $25.49 and a 12-month high of $59.58. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt to equity ratio of 1.87. The company’s 50-day moving average price is $30.61 and its 200-day moving average price is $31.88. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 1.74 and a beta of 2.19.

Hedge Funds Weigh On PENN Entertainment

A number of large investors have recently made changes to their positions in PENN. Avantax Advisory Services Inc. boosted its holdings in shares of PENN Entertainment by 5.1% in the first quarter. Avantax Advisory Services Inc. now owns 16,412 shares of the company’s stock valued at $691,000 after buying an additional 802 shares during the period. Vestmark Advisory Solutions Inc. boosted its position in PENN Entertainment by 17.2% in the first quarter. Vestmark Advisory Solutions Inc. now owns 5,125 shares of the company’s stock valued at $217,000 after buying an additional 751 shares during the period. Daiwa Securities Group Inc. increased its position in PENN Entertainment by 19.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,848 shares of the company’s stock valued at $78,000 after buying an additional 305 shares during the period. Illinois Municipal Retirement Fund increased its position in PENN Entertainment by 139.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 32,277 shares of the company’s stock valued at $1,369,000 after buying an additional 18,824 shares in the that period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in PENN Entertainment by 53.7% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,245 shares of the company’s stock valued at $55,000 after buying an additional 435 shares during the period. 82.62% of the shares are owned by hedge funds and other institutional investors.

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About PENN Entertainment

(Get Rating)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It has 44 operations in 20 states; online sports betting in 13 locations; and iCasino in five under the brand portfolio, including Hollywood Casino, L’Auberge, Barstool Sportsbook, and theScore Bet.

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