Gain detailed insights into the trading activity of Congress members for PENN Entertainment on our government trades page. Stay updated on how elected officials are investing in PENN.

PENN Entertainment - Government Trades

PENN Entertainment

Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.

Penn National Gaming

Earnings

News

Markets

Analyst Ratings

Trading Ideas

PENN

STRA

PENN Entertainment, Inc. (NASDAQ: PENN) has taken a significant step to bolster its industry-leading loyalty program by expanding its partnership with Ticketmaster.

PENN Entertainment Expands Partnership With Ticketmaster

Dave Portnoy Zach Catanzareti Photo

Sports Betting

Sports

General

DKNG

Portnoy seems undeterred by recent losses, placing $200,000 on the Phillies to win the 2024 World Series at +600 odds.

Dave Portnoy Lost Out On $1 Million Through Oilers Bet But Is Trying To Win It Back With A World Series Gamble

penn entertainmnet

Movers

Media

FLUT

A new report links Penn Entertainment as the latest acquisition target in the casino and online sports betting sectors.

Penn Entertainment Shares Soar On Buyout Report: What Investors Should Know

movers image

Intraday Update

ADBE

BAND

BIMI

CABA

CANF

CNSP

CORT

FOXO

GANX

INAB

IONM

IRON

JFBR

KAVL

KITT

KYTX

LGVN

NAAS

NNVC

NVAX

OCUL

ONMD

POWW

RARE

RNXT

RZLT

SVMH

THMO

TWOU

WLFC

Why AMMO Shares Are Trading Lower By Over 19%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

DraftKings-FanDuel

The Flutter Entertainment Bull Case: Are FanDuel And DraftKings A Sports Betting Duopoly?

Equities

PENN Entertainment shares surge as shareholder Donerail Group pushes for strategic changes, citing undervaluation and poor performance.

What&#39;s Going On With PENN Entertainment Stock Friday?

xr:d:DAFkez9BskM:2,j:7952622998620176998,t:23053111

ACIU

AMBA

AMSC

ASAN

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

ESTC

FLYX

JANX

Larimar Therapeutics, Inc. - Common Stock

LRMR

Ambarella Posts Upbeat Results, Joins Gap, PagerDuty, Elastic And Other Big Stocks Moving Higher On Friday

Entertainment

Price Target

Reiteration

PENN Entertainment acquired Barstool Sports through transactions in 2020 and 2023 to get a foothold in the sports betting business.

Penn Entertainment Analyst Predicts Gaming Turnaround Through ESPN Partnership

Analyst Color

Downgrades

Penn Entertainment shares rose despite disappointing Q1 results and low market share. BofA Securities downgrades to Buy.

Penn Entertainment&#39;s Losses Could Be &#39;Higher For Longer,&#39; Analyst Says

Texas,Instruments,Ground,Sign,Is,Seen,In,Lehi,City,,Utah,

MSDL

SEDG

This Texas Instruments Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Today

PENN Entertainment Inc

PENN BANCSHARES INC by Penn Bancshares, Inc.

Penn Bancshares Inc

Pennant Group Inc

PENNANT INTL GRP PLC by Pennant International Group PLC

Pennant International Group PLC

PennantPark Investment Corporation Common Stock

Pennant Park Investment Corp

PennantPark Floating Rate Capital Ltd. Common Stock

PennantPark Floating Rate Capital Ltd

Pennexx Foods Inc

Pennon Group PLC

PENNON GROUP PLC UNSP/ADR by Pennon Group PLC

Penns Woods Bancorp Inc

Pennsylvania Real Estate Investment Trust

Pennsylvania Real Estate Investment Trust 6.875% Cum Red Perp Pfd Shs Series -D-

Pennsylvania Real Estate Investment Trust 7 3/8 % Cum Red Perp Pfd Shs Series -B-

Pennsylvania Real Estate Investment Trust 7.20% Cum Red Perp Registered Pfd Shs Series -C-

PENNA WHSE&SAFE DEP CO by Pennsylvania Warehousing & Safe Deposit Co.

Pennsylvania Warehousing & Safe Deposit Co

PennyMac Financial Services, Inc. Common Stock

PennyMac Financial Services Inc

PennyMac Mortgage Investment Trust 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest

PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest

PennyMac Mortgage Investment Trust 6.75% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest

PennyMac Mortgage Investment Trust Common Shares of Beneficial Interest

PennyMac Mortgage Investment Trust 8.50% Senior Notes due 2028

Financial giants have made a conspicuous bullish move on PENN Entertainment. Our analysis of options history for PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) revealed 12 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 16% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $203,153, and 9 were calls, valued at $453,711.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $22.5 for PENN Entertainment, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for PENN Entertainment options trades today is 4221.1 with a total volume of 19,889.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for PENN Entertainment's big money trades within a strike price range of $15.0 to $22.5 over the last 30 days.
<h3>PENN Entertainment Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719605780_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.34</td>
<td>$2.28</td>
<td>$2.19</td>
<td>$20.00</td>
<td>$131.1K</td>
<td>19.1K</td>
<td>28</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.15</td>
<td>$22.50</td>
<td>$86.3K</td>
<td>494</td>
<td>0</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.9</td>
<td>$3.75</td>
<td>$3.75</td>
<td>$22.50</td>
<td>$72.7K</td>
<td>1.8K</td>
<td>7</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$5.0</td>
<td>$4.85</td>
<td>$4.9</td>
<td>$15.00</td>
<td>$65.6K</td>
<td>7.4K</td>
<td>354</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/28/24</td>
<td>$0.3</td>
<td>$0.19</td>
<td>$0.29</td>
<td>$19.50</td>
<td>$60.8K</td>
<td>1.2K</td>
<td>5.3K</td>
</tr>
</tbody>
</table>

<h3>About PENN Entertainment</h3>
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
<h3>Present Market Standing of PENN Entertainment</h3>
<ul>
<li>With a volume of 5,750,868, the price of PENN is up 2.46% at $19.36. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 41 days.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for PENN Entertainment with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

PENN Entertainment Unusual Options Activity For June 28

PENN Entertainment, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/penn#NASDAQ">PENN</a>) has taken a significant step to bolster its industry-leading loyalty program by expanding its partnership with Ticketmaster. This strategic move is set to provide more than 30 million PENN Play members with exciting new benefits, which will give them unprecedented access to live events. 
PENN Play members can now redeem their rewards for tickets to concerts, sporting events and shows through Ticketmaster. This initiative goes beyond just providing ticket access; it aims to create immersive experiences. The expansion includes on-site activations at five major amphitheaters across the United States, which is expected to enhance the live event experience for members. 
The timing of this partnership expansion couldn&#39;t be better. Recent research indicates a surge in global demand for live events. Fans are eager to join loyalty programs that offer live event perks, with many willing to switch programs to gain access to these benefits. PENN Entertainment&#39;s move addresses this demand head on, which should position the company as a leader in providing value and engagement through its loyalty program. 
Connecting PENN Play rewards with Ticketmaster accounts is a seamless process. Members can easily link their accounts and use PENN Cash to pay for part or all of their tickets on Ticketmaster.com. This integration simplifies the purchasing process and makes it convenient for members to access their favorite events. 
PENN Entertainment&#39;s expanded partnership with Ticketmaster is a strategic move that enhances the value of its loyalty program. By providing direct access to a wide range of live events and creating immersive experiences, PENN is setting a new standard in customer engagement and satisfaction. This initiative not only meets the growing demand for live events but also strengthens the loyalty of its 30 million members, ensuring that they continue to find fun with ease.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/99/69695.jpg?v=843593458" /> 
Image Source: Zacks Investment Research
<h3>Stock Performance</h3>
Shares of the company have risen 21.2% in the past month compared with the industry&#39;s growth of 20.2%. 
PENN Entertainment is benefiting from consistent business strategies and strong brand recognition. The company is also gaining from the implementation of the MyChoice reward program across all of its properties and online channels. 
PENN currently carries a Zacks Rank #3 (Hold).
<h3>Key Picks</h3>
Here are some better-ranked stocks from the Consumer Discretionary sector. 
Royal Caribbean Cruises Ltd.&nbsp;currently sports a Zacks Rank #1 (Strong Buy). 
RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has surged 56.5% in the past year. The Zacks Consensus Estimate for RCL&#39;s 2024 sales and earnings per share indicates growth of 16.9% and 64%, respectively, from the year-ago levels. 
Skechers U.S.A., Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skx#NYSE">SKX</a>) presently carries a Zacks Rank #2 (Buy). SKX has a trailing four-quarter earnings surprise of 34.1%, on average. The stock has risen 42.2% in the past year. 
The consensus estimate for SKX&#39;s 2024 sales and EPS indicates a rise of 10.6% and 16.9%, respectively, from the year-ago levels. 
Strategic Education, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stra#NASDAQ">STRA</a>) currently carries a Zacks Rank of 2. 
STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock has gained 62.5% in the past year. The Zacks Consensus Estimate for STRA&#39;s 2024 sales and EPS indicates an increase of 6.4% and 33.3%, respectively, from the year-ago levels.
<a href="https://www.zacks.com/stock/news/2294379/penn-entertainment-penn-expands-partnership-with-ticketmaster?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2294379">To read this article on Zacks.com click here.</a>

Rumors

Watching PENN Entertainment; Traders Circulate M&A Blog Comments Saying "Co Is Unlikely To Bow To Activist Pressure To Sell At Such An Early Stage Of Executing On What It Expects To Be A Game-Changing Online Sports Betting Partnership With ESPN"

WYNN

Las Vegas Strip May Gambling Revenue Rose 3.71% Year-Over-Year to $742.5M

<ul>
<li>PENN Entertainment is expanding its partnership with Ticketmaster to enhance PENN Play&#x2122;, its industry-leading customer loyalty offering.</li>
<li>Members can now connect their PENN Play Member Rewards and Ticketmaster accounts to use PENN Cash for tickets to concerts, sporting events and shows, providing a new convenient payment option.</li>
</ul>
PENN Entertainment Inc. ("PENN") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) today announced that it has expanded its partnership with Ticketmaster to offer exciting new benefits for its more than 30 million loyalty members. Starting today, PENN Play members can redeem rewards for tickets to live events through Ticketmaster. Additionally, PENN will have on-site activations at five amphitheaters across the U.S., further enhancing the live event experience for PENN Play members.

PENN Entertainment And Ticketmaster Partner To Level Up Loyalty Rewards For Millions Of PENN Play Members

Whales with a lot of money to spend have taken a noticeably bearish stance on PENN Entertainment.
Looking at options history for PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $120,623 and 6, calls, for a total amount of $431,005.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $22.5 for PENN Entertainment, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for PENN Entertainment's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across PENN Entertainment's significant trades, within a strike price range of $15.0 to $22.5, over the past month.
<h3>PENN Entertainment 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719421349_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.0</td>
<td>$3.95</td>
<td>$4.0</td>
<td>$15.00</td>
<td>$102.0K</td>
<td>8.1K</td>
<td style="text-align: right;">374</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.05</td>
<td>$4.0</td>
<td>$4.0</td>
<td>$15.00</td>
<td>$95.6K</td>
<td>8.1K</td>
<td style="text-align: right;">6</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$4.6</td>
<td>$4.5</td>
<td>$4.5</td>
<td>$22.50</td>
<td>$81.0K</td>
<td>1.5K</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.1</td>
<td>$4.0</td>
<td>$4.0</td>
<td>$15.00</td>
<td>$66.0K</td>
<td>8.1K</td>
<td style="text-align: right;">629</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.9</td>
<td>$3.8</td>
<td>$3.8</td>
<td>$17.50</td>
<td>$61.1K</td>
<td>13.3K</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>

<h3>About PENN Entertainment</h3>
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
In light of the recent options history for PENN Entertainment, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>PENN Entertainment's Current Market Status</h3>
<ul>
<li>With a trading volume of 3,446,183, the price of PENN is up by 1.26%, reaching $18.49.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 42 days from now.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for PENN Entertainment with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

What the Options Market Tells Us About PENN Entertainment

Dave Portnoy, <a href="https://www.benzinga.com/topic/dave-portnoy">the founder of Barstool Sports</a>, is known for betting large sums of money in sporting events. 
What Happened: Despite a recent hot streak, including winning nearly $1.5 million when the Boston Celtics won the NBA finals, Portnoy&#8217;s luck seemed to run out when he lost a $150,000 bet that would have netted him more than $1 million on the Edmonton Oilers to win the Stanley Cup. Portnoy seemed undeterred by the loss. He shared a DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) <a href="https://x.com/stoolpresidente/status/1805592916431179857">bet slip</a> showing that he placed $200,000 on the Philadelphia Phillies to win the 2024 World Series at +600 odds. That means he would win $1.2 million if the Phillies end up taking home the championship. Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/06/39382135/portnoy-wins-big-with-boston-celtics-nba-championship-rapper-drake-loses-500k-and-could-lo">Portnoy Wins Big With Boston Celtics NBA Championship, Rapper Drake Loses $500K And Could Lose $500K More On NHL Bet</a>
Basically: Barstool, one of the leading sports media companies in the country, partnered with DraftKings after Penn Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) sold Barstool back to Portnoy for $1. Penn, which previously ran the Barstool Sports book, now operates the ESPN Bet sports book. 
Past Wins: Portnoy has also netted money by betting on top golfer Scottie Scheffler. 
Portnoy had a two-leg parlay of Scheffler winning the RBC Heritage in April and the Celtics to win the NBA Championship. 
Scheffler's odds of winning the tournament were more than +500, while the Celtics' odds at the time were around +150. Both legs were victorious and the bet paid out more than $1.5 million in winnings on a $100,000 bet.
Now Read: <a href="https://www.benzinga.com/general/social-media/24/06/39276169/dave-portnoy-says-roaring-kitty-made-this-tactical-error-as-gamestop-shares-trade-down-60-fr">Portnoy Says Roaring Kitty Made This &#8216;Tactical Error&#8217; As GameStop Shares Trade Down</a>

WIIM

PENN Entertainment shares are trading lower after Raymond James downgraded the stock from Outperform to Market Perform.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/05/24</td>
<td>$185.00</td>
<td>$30.1K</td>
<td>5.9K</td>
<td>5.2K</td>
</tr>
<tr>
<td>FFIE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$0.50</td>
<td>$35.5K</td>
<td>3.2K</td>
<td>2.9K</td>
</tr>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$200.00</td>
<td>$27.2K</td>
<td>18.0K</td>
<td>2.3K</td>
</tr>
<tr>
<td>CZR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$40.00</td>
<td>$27.3K</td>
<td>7.8K</td>
<td>1.9K</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$325.00</td>
<td>$38.9K</td>
<td>1.7K</td>
<td>569</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$105.00</td>
<td>$26.4K</td>
<td>24</td>
<td>287</td>
</tr>
<tr>
<td>LOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$220.00</td>
<td>$47.6K</td>
<td>43</td>
<td>174</td>
</tr>
<tr>
<td>MCD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/28/24</td>
<td>$252.50</td>
<td>$25.0K</td>
<td>468</td>
<td>63</td>
</tr>
<tr>
<td>TSCO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/28/24</td>
<td>$267.50</td>
<td>$32.8K</td>
<td>103</td>
<td>35</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$22.50</td>
<td>$50.8K</td>
<td>4.7K</td>
<td>19</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option sweep with bullish sentiment. It expires in 10 day(s) on July 5, 2024. Parties traded 67 contract(s) at a $185.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $30.1K, with a price of $450.0 per contract. There were 5985 open contracts at this strike prior to today, and today 5204 contract(s) were bought and sold. 
• For FFIE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>), we notice a call option trade that happens to be bullish, expiring in 143 day(s) on November 15, 2024. This event was a transfer of 3949 contract(s) at a $0.50 strike. The total cost received by the writing party (or parties) was $35.5K, with a price of $9.0 per contract. There were 3211 open contracts at this strike prior to today, and today 2922 contract(s) were bought and sold. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be bullish, expiring in 52 day(s) on August 16, 2024. This event was a transfer of 30 contract(s) at a $200.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $27.2K, with a price of $908.0 per contract. There were 18081 open contracts at this strike prior to today, and today 2394 contract(s) were bought and sold. 
• Regarding CZR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>), we observe a call option sweep with bearish sentiment. It expires in 87 day(s) on September 20, 2024. Parties traded 120 contract(s) at a $40.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $27.3K, with a price of $228.0 per contract. There were 7834 open contracts at this strike prior to today, and today 1993 contract(s) were bought and sold. 
• Regarding HD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), we observe a put option sweep with bearish sentiment. It expires in 24 day(s) on July 19, 2024. Parties traded 173 contract(s) at a $325.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $38.9K, with a price of $225.0 per contract. There were 1791 open contracts at this strike prior to today, and today 569 contract(s) were bought and sold. 
• For NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we notice a call option trade that happens to be bearish, expiring in 38 day(s) on August 2, 2024. This event was a transfer of 200 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $26.4K, with a price of $132.0 per contract. There were 24 open contracts at this strike prior to today, and today 287 contract(s) were bought and sold. 
• For LOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), we notice a call option sweep that happens to be bullish, expiring in 52 day(s) on August 16, 2024. This event was a transfer of 76 contract(s) at a $220.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $47.6K, with a price of $627.0 per contract. There were 43 open contracts at this strike prior to today, and today 174 contract(s) were bought and sold. 
• For MCD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), we notice a call option trade that happens to be bullish, expiring in 3 day(s) on June 28, 2024. This event was a transfer of 57 contract(s) at a $252.50 strike. The total cost received by the writing party (or parties) was $25.0K, with a price of $440.0 per contract. There were 468 open contracts at this strike prior to today, and today 63 contract(s) were bought and sold. 
• For TSCO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>), we notice a put option trade that happens to be bullish, expiring in 3 day(s) on June 28, 2024. This event was a transfer of 80 contract(s) at a $267.50 strike. The total cost received by the writing party (or parties) was $32.8K, with a price of $410.0 per contract. There were 103 open contracts at this strike prior to today, and today 35 contract(s) were bought and sold. 
• Regarding PENN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), we observe a call option sweep with bearish sentiment. It expires in 115 day(s) on October 18, 2024. Parties traded 490 contract(s) at a $22.50 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $50.8K, with a price of $103.0 per contract. There were 4783 open contracts at this strike prior to today, and today 19 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

FFIE

TSCO

TSLA

10 Consumer Discretionary Stocks Whale Activity In Today's Session

Raymond James analyst RJ Milligan downgrades PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) from Outperform to Market Perform.

Raymond James Downgrades PENN Entertainment to Market Perform

18 analysts have expressed a variety of opinions on PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for PENN Entertainment, presenting an average target of $24.92, a high estimate of $32.00, and a low estimate of $17.50. Experiencing a 4.59% decline, the current average is now lower than the previous average price target of $26.12. 
<img src="https://www.benzinga.com/files/images/story/2024/1719000080_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of PENN Entertainment's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joseph Moore</td>
<td>Susquehanna</td>
<td>Maintains</td>
<td>Positive</td>
<td>$26.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>Ryan Sigdahl</td>
<td>Craig-Hallum</td>
<td>Raises</td>
<td>Buy</td>
<td>$30.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$25.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Joseph Moore</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$26.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>RJ Milligan</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$20.00</td>
<td>-</td>
</tr>
<tr>
<td>Bernie McTernan</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$26.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>Shaun Kelley</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$17.50</td>
<td>$28.00</td>
</tr>
<tr>
<td>Daniel Politzer</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$18.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Ryan Sigdahl</td>
<td>Craig-Hallum</td>
<td>Lowers</td>
<td>Hold</td>
<td>$20.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Brandt Montour</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>Ben Chaiken</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$32.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Bernie McTernan</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$26.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Bernie McTernan</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$32.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Jason Tilchen</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Buy</td>
<td>$28.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$23.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Felicia Hendrix</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$26.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Dara Mohsenian</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$22.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Ben Chaiken</td>
<td>Mizuho</td>
<td>Announces</td>
<td>Buy</td>
<td>$29.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to PENN Entertainment. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of PENN Entertainment compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of PENN Entertainment's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of PENN Entertainment's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/PENN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on PENN Entertainment analyst ratings.</a>
<h2>About PENN Entertainment</h2>
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
<h3>Financial Insights: PENN Entertainment</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Challenges: PENN Entertainment's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -3.97%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: PENN Entertainment's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -7.15%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): PENN Entertainment's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -3.66%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): PENN Entertainment's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -0.73%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: PENN Entertainment's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 3.72.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For PENN Entertainment

Susquehanna analyst Joseph Moore maintains PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) with a Positive and maintains $26 price target.

Susquehanna Maintains Positive on PENN Entertainment, Maintains $26 Price Target

Investors with a lot of money to spend have taken a bullish stance on PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PENN, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for PENN Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $160,936, and 5 are calls, for a total amount of $210,424.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $18.5 and $25.0 for PENN Entertainment, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for PENN Entertainment's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of PENN Entertainment's whale trades within a strike price range from $18.5 to $25.0 in the last 30 days. 
<h3>PENN Entertainment Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718981191_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$1.18</td>
<td>$1.14</td>
<td>$1.16</td>
<td>$20.00</td>
<td>$88.3K</td>
<td>20.5K</td>
<td style="text-align: right;">128</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$6.3</td>
<td>$6.2</td>
<td>$6.2</td>
<td>$25.00</td>
<td>$57.6K</td>
<td>56</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/05/24</td>
<td>$0.58</td>
<td>$0.49</td>
<td>$0.56</td>
<td>$18.50</td>
<td>$40.5K</td>
<td>22</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.73</td>
<td>$2.62</td>
<td>$2.62</td>
<td>$20.00</td>
<td>$34.5K</td>
<td>18.0K</td>
<td style="text-align: right;">272</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$3.15</td>
<td>$3.15</td>
<td>$20.00</td>
<td>$31.5K</td>
<td>979</td>
<td style="text-align: right;">114</td>
</tr>
</tbody>
</table>

<h3>About PENN Entertainment</h3>
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
Having examined the options trading patterns of PENN Entertainment, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of PENN Entertainment</h3>
<ul>
<li>Currently trading with a volume of 2,294,409, the PENN's price is down by -2.69%, now at $19.5. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 47 days.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for PENN Entertainment with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

PENN Entertainment Options Trading: A Deep Dive into Market Sentiment

Shares of PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) traded higher on Thursday with a report linking the company to an acquisition that could change <a href="https://www.benzinga.com/topic/casino-stocks">the casino sector.</a>
What Happened: Penn Entertainment has been approached by Boyd Gaming (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) according to a new report from Reuters. The report comes as Penn shares are down 23% year-to-date in 2024 and the company has struggled to grow with its new ESPN Bet online<a href="https://www.benzinga.com/general/sports-betting"> sports betting platform.</a>
The deal could face challenges getting off the ground, with Body having a smaller valuation when factoring in debt than Penn. A merger or acquisition of Penn could mark the largest in the gambling space in the United States since the $17.3 billion 2020 deal that merged Caesars Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) and Eldorado Resorts.
Another key to the deal would be Boyd winning over The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), since Penn has a licensing agreement for the ESPN Bet brand for its sportsbook from the media company. Penn has a 10-year deal with Disney for the ESPN brand.
Penn has 43 casinos and racetracks in 20 states, along with the online sports betting and online casino businesses.
Boyd has 28 properties in 10 states and also has a 5% stake in FanDuel, which is a unit of Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>). Body has an online casino gaming business, but is not a large player in the online sports betting market.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38770327/sports-betting-sector-could-see-duopoly-or-oligopoly-in-most-states-goldman-sachs-a">Sports Betting Sector Could See Duopoly Or Oligopoly In Most States: Goldman Sachs Analyst Favors These 2 Stocks</a>
Why It's Important: Penn saw early success with the launch of ESPN Bet, but the sports betting brand has failed to gain market share in many states alongside market leaders DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) and FanDuel.
Penn has also been criticized for its $550 million spent to acquire Barstool Sports before selling the company back to its founder Dave Portnoy for $1 years later.
The losses from the company's online business have worried some investors, as the casino business has shown strong results in recent years.
Recently, analysts have become more favorable towards Penn as the company strategically focuses on long-term profitability for its online betting platform and reports strong casino traffic.
The latest news indicates the early stages of a potential deal, but there is no certainty that Penn will enter talks or is considering selling its business.
PENN, BYD Price Action: Penn shares were up 10% to $20.04 on Thursday, versus a 52-week trading range of $13.50 to $29.38.
Boyd shares fell 2% to $52.74 on Thursday on news of the report.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624401/penn-entertainment-focuses-on-where-the-puck-has-been-rather-than-where-its-going-5">Penn Entertainment Focuses On &#8216;Where The Puck Has Been Rather Than Where It&#8217;s Going&#8217;: 5 Analysts Size Up Q1 Results, Sports Betting Segment</a>
Photo: Shutterstock

PENN shares are trading higher following a report suggesting Boyd Gaming made an acquisition approach to the company.

PENN Entertainment Shares Resume Trade

PENN Entertainment Shares Halted To The Upside, Stock Up 7.95%

Boyd Gaming Makes Acquisition Approach To Penn Entertainment

Market Summary

AMAT

LRCX

Benzinga Market Summary: Indexes Close Higher, Wells Fargo Raises PT On Multiple Chip Stocks, Sports Betting Stocks Rise

Penn shares are trading higher amid strength in sports betting stocks. Sports betting stocks gained amid optimism that taxes will not be introduced into New Jersey's 2025 budget which closes on June 30th. Also, the U.S. Supreme Court denied the petition to hear the Florida sports betting case, which may accelerate other state launches.

Penn Entertainment upped at Craig-Hallum on buyout interest; Barclays says not so fast

Deutsche Numis analyst Carlo Santarelli maintained a Hold rating on Penn National Gaming (PENN – Research Report) today and set a price target of $...

Analyzing Penn National Gaming's Hold Rating Amidst Uncertainty and Acquisition Speculations

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Penn Entertainment (NASDAQ:<a href="https://investorplace.com/stock-quotes/penn-stock-quote/">PENN</a>) stock is in the news Friday as reports spread that the company has <a href="https://www.reuters.com/markets/deals/boyd-gaming-makes-acquisition-approach-penn-entertainment-sources-say-2024-06-20/">received an acquisition offer</a> from Boyd Gaming (NYSE:<a href="https://investorplace.com/stock-quotes/byd-stock-quote/">BYD</a>).



According to these reports, Boyd Gaming is looking to acquire Penn Entertainment for more than $9 billion. However, there are several hurdles that Boyd Gaming would have to overcome first.



The first of these is Penn Entertainment even taking part in negotiations. The offer from Boyd Gaming is unsolicited and may be ignored. There are also regulator issues with both companies needing approval across several states.



On top of that, Boyd Gaming is smaller than Penn Entertainment. This could make it hard for the company to secure the cash for a transaction.



Finally, Penn Entertainment is currently in a partnership with ESPN. That means any deal would have to secure the approval of ESPN parent company Disney (NYSE:<a href="https://investorplace.com/stock-quotes/dis-stock-quote/">DIS</a>). It&rsquo;s unclear how Disney feels about the potential deal.



<h2>PENN Stock Movement Today</h2>



PENN stock investors don&rsquo;t appear overly excited about the prospect of a deal with Boyd Gaming. The stock is currently down 4.4% as of Friday afternoon. This comes with some 3.6 million shares traded. The company&rsquo;s daily average trading volume is about 6.6 million shares.



Investors will want to stick around for more of the most recent stock market stories!



We have all of the hottest stock market news traders need to know about on Friday! A few examples include what&rsquo;s going on with shares of Spirit AeroSystems&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/spr-stock-quote/">SPR</a>) stock, Chinese electric vehicle (EV) companies and more. All of that info is ready to go at the links below!



<h2>More Stock Market News for Friday</h2>



<ul><li><a href="https://investorplace.com/2024/06/spirit-aerosystems-spr-stock-climbs-on-news-boeing-deal-inches-closer/">Spirit AeroSystems (SPR) Stock Climbs on News Boeing Deal Inches Closer</a></li>



<li><a href="https://investorplace.com/2024/06/chinese-ev-stocks-nio-li-xpev-rocked-by-threat-of-potential-canadian-tariffs/">Chinese EV Stocks NIO, LI, XPEV Rocked by Threat of Potential Canadian Tariffs</a></li>



<li><a href="https://investorplace.com/2024/06/why-is-ascent-solar-asti-stock-up-11-today/">Why Is Ascent Solar (ASTI) Stock Up 11% Today?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT802110">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT766411">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/06/penn-stock-alert-boyd-gaming-wants-to-buy-penn-entertainment/">PENN Stock Alert: Boyd Gaming Wants to Buy Penn Entertainment</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

PENN Stock Alert: Boyd Gaming Wants to Buy Penn Entertainment

PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) was upgraded to a Buy by five-star rated Craig-Hallum analyst Ryan Sigdahl following the news that rival Boyd Gami...

Craig-Hallum Analyst Upgrades PENN Rating (NASDAQ:PENN) Amid Merger Talks

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The CDK cyberattack continues and the newest update leaves car dealerships around the U.S. struggling to do business as it hampers the systems they use to conduct business.



Reports state that <a href="https://www.cbsnews.com/news/cdk-cyber-attack-outage-auto-dealerships-cbs-news-explains/">roughly 15,000 car dealerships</a> in the U.S. and dealing with problems as a result of the CDK cyberattack. This marks the third day of issues for used car dealerships since the cyberattack initially took down their systems late on Tuesday before suffering a second attack on Wednesday.



CDK notes in an update that it doesn&rsquo;t know when its systems will be operational again after the cyberattack. The company has shut down most of its systems in order to protect customers. It also warns that the outage could continue for several days.



The National Automobile Dealers Association <a href="https://www.cnbc.com/2024/06/21/cdks-cyber-outage-hits-us-auto-dealers.html">said the following</a> about the CDK cyberattack to CNBC.




&ldquo;Dealers are very committed to protecting their customer information and are actively seeking information from CDK to determine the nature and scope of the cyber incident so they can respond appropriately.&rdquo;




<h2>Update: Who Is Behind the CDK Cyberattack?</h2>



That&rsquo;s still not known at this time. There&rsquo;s likely a group behind the attack but they haven&rsquo;t made themselves known yet. Instead, we have to wait for more updates from CDK to learn more about this cyberattack.



Until then, there&rsquo;s plenty of other stock market news traders will want to read about on Friday!



We have all of the hottest stock market news that traders need to know about today. That includes everything happening with shares of Penn Entertainment&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/penn-stock-quote/">PENN</a>) stock, Spirit AeroSystems&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/spr-stock-quote/">SPR</a>) stock and more. All of this info is ready at the following links!



<h2>More Friday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/06/penn-stock-alert-boyd-gaming-wants-to-buy-penn-entertainment/">PENN Stock Alert: Boyd Gaming Wants to Buy Penn Entertainment</a></li>



<li><a href="https://investorplace.com/2024/06/spirit-aerosystems-spr-stock-climbs-on-news-boeing-deal-inches-closer/">Spirit AeroSystems (SPR) Stock Climbs on News Boeing Deal Inches Closer</a></li>



<li><a href="https://investorplace.com/2024/06/chinese-ev-stocks-nio-li-xpev-rocked-by-threat-of-potential-canadian-tariffs/">Chinese EV Stocks NIO, LI, XPEV Rocked by Threat of Potential Canadian Tariffs</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT802110">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT766411">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/06/cdk-cyberattack-update-car-dealerships-continue-to-struggle-as-shutdowns-continue/">CDK Cyberattack Update: Car Dealerships Continue to Struggle as Shutdowns Continue</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CDK Cyberattack Update: Car Dealerships Continue to Struggle as Shutdowns Continue

Penn National Gaming (PENN – Research Report) received a Hold rating and price target from Raymond James analyst RJ Milligan today. The company's s...

Raymond James downgrades Penn National Gaming (PENN) to a Hold

Penn Entertainment is downgraded at Raymond James after M&A-fueled rally

PENN Entertainment: After Being Bullish, I Am Now Bearish Absent A Boyd Gaming Deal

Casino and gaming stocks, including MGM Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), Wynn Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>), Penn Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), and Caesars Entertainment...

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Government Trades

PENN Entertainment Inc

top performing PENN trades