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

PENN Entertainment, Inc. (NASDAQ:PENN) saw some unusual options trading on Friday. Stock investors bought 31,360 call options on the company. This represents an increase of 66% compared to the typical daily volume of 18,906 call options.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $16.92 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The business’s 50 day moving average price is $19.68 and its two-hundred day moving average price is $19.59. The company 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC acquired a new stake in PENN Entertainment during the 4th quarter valued at $596,000. Janus Henderson Group PLC lifted its stake in shares of PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock worth $4,697,000 after buying an additional 176,844 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of PENN Entertainment by 367.2% during the 3rd quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after buying an additional 356,029 shares during the period. Harbor Capital Advisors Inc. grew its stake in PENN Entertainment by 8.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock valued at $11,851,000 after buying an additional 46,209 shares during the last quarter. Finally, ING Groep NV bought a new position in PENN Entertainment in the 4th quarter valued at about $9,910,000. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday, February 28th. Stifel Nicolaus lowered their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. StockNews.com upgraded shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company lifted 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 note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.56.

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.