On March 24, 2023 at 12:00:46 a.m. ET, an unusually large block of $399.54,000 of Penn National Gaming (PENN) call contracts was purchased, with a strike price of $30.00/ stock, expiring in 56 days (May 19, 2023). Fintel tracks all large option trades, and the premium spent on this trade was 3.85 sigma above the average, putting it in the 99.99 percentile of all recent large trades made on PENN options. .
This trade was first detected on Fintel’s real-time unusual options trades tool, where unusual options trades are highlighted.
Analyst price forecast suggests 54.42% upside
As of March 23, 2023, the one-year average price target for Penn National Gaming was $42.73. The forecast ranges from a low of $31.31 to a high of $68.25. The average price target represents a 54.42% increase from its last reported closing price of $27.67.
Check out our ranking of companies with the biggest upward price target.
Annual revenue forecast for Penn National Gaming is $6,596 million, an increase of 3.04%. Projected annual non-GAAP EPS is $2.02.
What is fund sentiment?
There are 898 funds or institutions reporting positions in Penn National Gaming. This is a decrease of 89 owner(s) or 9.02% in the last quarter. Average portfolio weight of all funds dedicated to PENN is 0.18%, an increase of 12.21%. The total number of shares held by institutions has increased over the past three months by 1.54% to 155,227,000 shares. PENN’s put/call ratio is 0.65, indicating a bullish outlook.
What do major shareholders do?
HG Vora Capital Management holds 10,250,000 shares representing 6.68% ownership of the company. In its previous filing, the company said it held 7,500,000 shares, representing
a raise
of 26.83%. The company
increase
its PENN portfolio allocation of 30.62% in the last quarter.
Bamco holds 8,091,000 shares representing 5.28% ownership of the company. In its previous filing, the company said it held 8,570,000 shares, representing
a decrease
of 5.93%. The company
increase
its PENN portfolio allocation of 5.93% in the last quarter.
FBGRX – Fidelity Blue Chip Growth Fund holds 6,918,000 shares representing 4.51% ownership of the company. In its previous filing, the company said it held 7,214,000 shares, representing
a decrease
of 4.28%. The company
increase
its portfolio allocation in PENN by 3.70% in the last quarter.
Invesco holds 5,129,000 shares representing 3.34% ownership of the company. In its previous filing, the company said it held 6,329,000 shares, representing
a decrease
of 23.38%. The company
decreases
its PENN portfolio allocation of 20.38% in the last quarter.
BGRFX – BARON GROWTH FUND holds 4,910,000 shares representing 3.20% ownership of the company. In its previous filing, the company said it held 4,975,000 shares, representing
a decrease
1.32%. The company
decreases
its PENN portfolio allocation by 2.75% in the last quarter.
General information about PENN Entertainment
(This description is provided by the company.)
With the largest and most diverse regional gaming footprint in the nation, comprising 41 properties in 19 states, Penn National continues to evolve into a highly innovative omnichannel provider of retail and online gaming, live racing and sports betting. The Company’s properties include approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar and L’Auberge. Its wholly-owned interactive division, Penn Interactive, operates retail sportsbooks across the company’s portfolio, as well as online social casino, bingo and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool exclusively promotes the company’s land-based and online casinos and sportsbook products, including the Barstool Sportsbook mobile app, to its domestic audience. The company’s omnichannel approach is bolstered by the mychoice loyalty program, which rewards and recognizes its more than 20 million members for their loyalty to retail and online gaming and sports betting products with the bundle of offers. , experiences and the fastest growing service levels in the world. Industry.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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