PENN Entertainment (NASDAQ:PENN) Stock

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

New,Orleans,,Usa,,January,27,,2025:,Kansas,City,Chiefs,Vs.

Analyst Color

Sports Betting

Price Target

Reiteration

Sports

Analyst Ratings

Trading Ideas

DKNG

FLUT

PENN

EPNN

Super Bowl LIX wagering is split fairly even between the Chiefs and Eagles at sportsbooks. The over/under for the 48.5 points is more lopsided.

Why Sportsbooks Like DraftKings May Favor Low-Scoring Super Bowl LIX

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As 2024 concludes, investors await the Santa Claus rally lifting stocks in the last week of December and the January effect to kick in the following month. The January effect occurs when investors buy back into the

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PENN Entertainment Inc

PENNANT INTL GRP PLC by Pennant International Group PLC

PENNON GROUP PLC by Pennon Group PLC

PENN BANCSHARES INC by Penn Bancshares, Inc.

Penn Bancshares Inc

Pennant Group Inc

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

PennyMac Mortgage Investment Trust 9.00% Senior Notes due 2030

Analysts are weighing in on which sportsbooks stand to gain from Super Bowl LIX and whether <a href="https://www.benzinga.com/general/sports/25/02/43480342/chiefs-chase-historic-super-bowl-three-peat-and-nba-legend-stands-to-gain">a Kansas City Chiefs </a>three-peat would be a win or loss for the industry.
Super Bowl LIX Winners: Bank of America said the Chiefs winning and less than 48.5 points being scored<a href="https://www.benzinga.com/topic/super-bowl"> in Super Bowl LIX </a>could be the perfect formula for sportsbooks.
The prediction comes with most sportsbooks having the Chiefs as a 1.5-point favorite, among the low favorites in Super Bowl history, with an average of three points in the last 10 games.
Data tracked from BetMGM, which is a joint venture from MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) and Entain, shows that bettors favor the Eagles moneyline and spread based on both handle and the number of bets at 53% and 55% respectively. For the over/under, around 84% of the handle and 78% of the bets are on the over at BetMGM.
Bank of America said the caution from some sportsbooks, including BetMGM, is there is a large liability of futures bets from earlier in the season on the Chiefs winning the Super Bowl.
Overall, a total of $1.4 billion is expected to be bet on Super Bowl LIX according to the American Gaming Association, which would be in line with last year's total.
The Super Bowl is important for customer acquisition, Bank of America said in their new note. Among the companies with promotions for new customers are DraftKings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) brand FanDuel, BetMGM and Caesars Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>). ESPN Bet from Penn Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPNN#NASDAQ">EPNN</a>) is also listed in the promotions.
"Since the game is being held at the Caesars Superdome, the Caesars brand will likely get a lot of airtime, and the newly renovated New Orleans casino should benefit from increased activity around the game."
DraftKings will not have a Super Bowl LIX commercial while FanDuel will.
Bank of America also said that sportsbooks are again leaning into the Taylor Swift and Travis Kelce relationship, which may have boosted viewership for last year's Super Bowl.
Sportsbooks have Swiftie Specials bets and FanDuel even offers a Swift bingo card. In Canada, BetMGM customers can bet on if Kelce and Swift will get engaged after Super Bowl LIX at odds of +800.
Read Also: <a href="https://www.benzinga.com/general/sports/25/02/43560232/super-bowl-lix-commercials-ai-celebs-muppets-warren-buffett-linked-brand-take-the-spotlight">Super Bowl LIX Commercials: AI, Celebs, Muppets, Warren Buffett-Linked Brand Take The Spotlight</a>
Needham on DraftKings: Needham analyst Bernie McTernan reiterated a Buy rating and $60 price target on DraftKings ahead of Super Bowl LIX.
The analyst lowers fourth quarter estimates due to the already "widely known" customer-friendly outcomes for NFL games.
"For Super Bowl promos, we are seeing more jackpot promos with others following DKNG's King of the Court/King of the Endzone," McTernan said.
The analyst said DraftKings has been offering happy hour promotions that could increase betting volume in the days ahead of Super Bowl LIX.
For DraftKings, the biggest Super Bowl LIX liability could be the over 48.5 points with 84% of the handle, McTernan added.
"We do not think the winner of the game will have a major impact for the books. We note, it looks like sharps are leaning towards Chiefs ML and Eagles spread from looking at percent of handle relative to the percent of books."
DKNG Price Action: DraftKings stock is down 0.2% to $42.36 on Friday versus a 52-week trading range of $28.69 to $49.57.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports/25/02/43566535/super-bowl-indicator-why-wall-street-is-rooting-for-this-team-in-chiefs-vs-eagles-matchup">EXCLUSIVE: Super Bowl LIX Viewers More Excited About NFL Game, Kendrick Lamar, Commercials Or Taylor Swift? 63% Say…</a></li>
</ul>
Photo: kovop/Shutterstock.com

Deep-pocketed investors have adopted a bearish approach towards PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PENN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for PENN Entertainment. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 66% bearish. Among these notable options, 3 are puts, totaling $103,155, and 6 are calls, amounting to $333,647.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $35.0 for PENN Entertainment over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of PENN Entertainment stands at 3047.89, with a total volume reaching 11,144.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in PENN Entertainment, situated within the strike price corridor from $20.0 to $35.0, throughout the last 30 days.
<h3>PENN Entertainment Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738944064_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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>02/14/25</td>
<td>$1.33</td>
<td>$0.8</td>
<td>$0.85</td>
<td>$21.00</td>
<td>$85.0K</td>
<td>4.1K</td>
<td>3.1K</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$1.64</td>
<td>$1.63</td>
<td>$1.63</td>
<td>$25.00</td>
<td>$81.5K</td>
<td>1.5K</td>
<td>618</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/14/25</td>
<td>$3.7</td>
<td>$0.0</td>
<td>$1.3</td>
<td>$20.50</td>
<td>$68.2K</td>
<td>861</td>
<td>0</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$3.4</td>
<td>$3.25</td>
<td>$3.3</td>
<td>$22.50</td>
<td>$43.2K</td>
<td>0</td>
<td>135</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$0.42</td>
<td>$0.13</td>
<td>$0.16</td>
<td>$21.50</td>
<td>$37.8K</td>
<td>2.7K</td>
<td>2.6K</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>Where Is PENN Entertainment Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 848,831, the PENN's price is up by 1.43%, now at $21.26. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 20 days.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
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

Check Out What Whales Are Doing With PENN

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 will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated 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>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$380.00</td>
<td>$35.2K</td>
<td>9.6K</td>
<td>52.5K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$2.00</td>
<td>$50.0K</td>
<td>25.8K</td>
<td>10.0K</td>
</tr>
<tr>
<td>CVNA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/14/25</td>
<td>$235.00</td>
<td>$84.0K</td>
<td>446</td>
<td>2.1K</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$20.50</td>
<td>$29.9K</td>
<td>754</td>
<td>2.0K</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$100.00</td>
<td>$54.6K</td>
<td>1.5K</td>
<td>1.8K</td>
</tr>
<tr>
<td>RCL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$275.00</td>
<td>$260.0K</td>
<td>2.2K</td>
<td>1.7K</td>
</tr>
<tr>
<td>PTON</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/07/25</td>
<td>$8.00</td>
<td>$46.5K</td>
<td>2.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>MBLY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$22.00</td>
<td>$826.6K</td>
<td>58</td>
<td>1.6K</td>
</tr>
<tr>
<td>GRPN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/14/25</td>
<td>$11.50</td>
<td>$101.9K</td>
<td>1.5K</td>
<td>1.5K</td>
</tr>
<tr>
<td>EAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$160.00</td>
<td>$135.6K</td>
<td>732</td>
<td>700</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on February 7, 2025. Parties traded 200 contract(s) at a $380.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $35.2K, with a price of $176.0 per contract. There were 9612 open contracts at this strike prior to today, and today 52533 contract(s) were bought and sold. 
• Regarding LCID (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), we observe a put option sweep with bullish sentiment. It expires in 134 day(s) on June 20, 2025. Parties traded 2500 contract(s) at a $2.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $50.0K, with a price of $20.0 per contract. There were 25897 open contracts at this strike prior to today, and today 10062 contract(s) were bought and sold. 
• For CVNA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), we notice a put option sweep that happens to be bullish, expiring in 8 day(s) on February 14, 2025. This event was a transfer of 1000 contract(s) at a $235.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $84.0K, with a price of $79.0 per contract. There were 446 open contracts at this strike prior to today, and today 2138 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 put option trade with bearish sentiment. It expires in 1 day(s) on February 7, 2025. Parties traded 1302 contract(s) at a $20.50 strike. The total cost received by the writing party (or parties) was $29.9K, with a price of $23.0 per contract. There were 754 open contracts at this strike prior to today, and today 2001 contract(s) were bought and sold. 
• For SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we notice a put option trade that happens to be bullish, expiring in 225 day(s) on September 19, 2025. This event was a transfer of 130 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $54.6K, with a price of $420.0 per contract. There were 1526 open contracts at this strike prior to today, and today 1849 contract(s) were bought and sold. 
• Regarding RCL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), we observe a call option trade with bearish sentiment. It expires in 15 day(s) on February 21, 2025. Parties traded 500 contract(s) at a $275.00 strike. The total cost received by the writing party (or parties) was $260.0K, with a price of $520.0 per contract. There were 2210 open contracts at this strike prior to today, and today 1749 contract(s) were bought and sold. 
• For PTON (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>), we notice a call option sweep that happens to be bearish, expiring in 29 day(s) on March 7, 2025. This event was a transfer of 500 contract(s) at a $8.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $46.5K, with a price of $93.0 per contract. There were 2825 open contracts at this strike prior to today, and today 1629 contract(s) were bought and sold. 
• Regarding MBLY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), we observe a call option sweep with bearish sentiment. It expires in 708 day(s) on January 15, 2027. Parties traded 1620 contract(s) at a $22.00 strike. This particular call needed to be split into 48 different trades to become filled. The total cost received by the writing party (or parties) was $826.6K, with a price of $510.0 per contract. There were 58 open contracts at this strike prior to today, and today 1620 contract(s) were bought and sold. 
• For GRPN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>), we notice a put option sweep that happens to be bearish, expiring in 36 day(s) on March 14, 2025. This event was a transfer of 927 contract(s) at a $11.50 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $101.9K, with a price of $110.0 per contract. There were 1574 open contracts at this strike prior to today, and today 1500 contract(s) were bought and sold. 
• Regarding EAT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>), we observe a call option sweep with bearish sentiment. It expires in 43 day(s) on March 21, 2025. Parties traded 51 contract(s) at a $160.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $135.6K, with a price of $2660.0 per contract. There were 732 open contracts at this strike prior to today, and today 700 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 news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CVNA

GRPN

LCID

MBLY

PTON

SBUX

TSLA

10 Consumer Discretionary Stocks Whale Activity In Today's Session

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Significant Change Required to Restore Accountability and Proper Oversight to PENN's Board After Years of Poor Judgment, Failed Transactions, and Value Destructive Actions
PENN Directors Have Wasted Billions on Online Sports Betting Investments Despite Zero Industry Expertise or Credibility
Nominees Have Much Needed Expertise in Land Based and Online Gaming, Strong Track Records of Disciplined Capital Allocation, and History of Tremendous Value Creation Through Strategic Transactions
NEW YORK, Jan. 29, 2025 /PRNewswire/ --&nbsp;HG Vora Capital Management, LLC ("HG Vora"), a New York based investment firm with deep expertise in the gaming sector and a large shareholder of PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) ("PENN" or the "Company"), today announced its nomination of three highly qualified director candidates – William J. Clifford, Johnny Hartnett, and Carlos Ruisanchez – to PENN's Board of Directors (the "Board") at the 2025 Annual Meeting of Shareholders. All three candidates are independent of both HG Vora and Company management.
HG Vora believes there is significant unrealized value in PENN's regional casino portfolio and collection of Interactive assets. However, PENN's Board has numerous deficiencies which have translated directly into abysmal returns for shareholders. Over the past four years, PENN's shares have declined -81%, dramatically underperforming the S&amp;P 500 Index and its closest peer, Boyd Gaming, which have returned +69% and +73%, respectively, over the same period.

Management

HG Vora Capital Management Nominates 3 Independent Director Candidates To PENN Entertainment Board; Says "Nominees Have Much Needed Expertise in Land Based and Online Gaming, Strong Track Records of Disciplined Capital Allocation, and History of Tremendous Value Creation Through Strategic Transactions"

<a href="https://www.wsj.com/business/deals/major-penn-entertainment-shareholder-is-launching-proxy-fight-f2b37504?mod=latest_headlines" title="https://www.wsj.com/business/deals/major-penn-entertainment-shareholder-is-launching-proxy-fight-f2b37504?mod=latest_headlines">https://www.wsj.com/business/deals/major-penn-entertainment-shareholder-is-launching-proxy-fight-f2b37504?mod=latest_headlines</a>

'Major Penn Entertainment Shareholder Is Launching Proxy Fight; The Firm Has Criticized The Casino Operator's M&A History, Share Performance' - WSJ

WIIM

Melco Resorts & Entertainment Limited - American Depositary Shares

MLCO

WYNN

Shares of sports betting and gambling stocks are trading higher following Trump's inauguration as investors weigh the new administration's economic policies.

<a href="https://www.sportsbookreview.com/news/light-wonder-partner-penn-entertainment-new-product-jan-16-2024/">https://www.sportsbookreview.com/news/light-wonder-partner-penn-entertainment-new-product-jan-16-2024/</a>
It may not be the parent company of one of our&nbsp;<a href="https://www.sportsbookreview.com/betting-sites/">best sports betting sites</a>, but PENN Entertainment is certainly doing its best to make moves to continue to make a name for itself and promote growth.
The iGaming group Light &amp; Wonder has announced that it is launching its new player engagement product portfolio on PENN Entertainment's online Hollywood Casino platform in the&nbsp;<a href="https://www.sportsbookreview.com/casino/us/michigan/">Michigan online casino</a>&nbsp;market.

Light & Wonder Partner With PENN Entertainment To Launch New Product, A New Player Engagement Product Portfolio On PENN Entertainment's Online Hollywood Casino Platform In The Michigan Online Casino Market

JMP Securities analyst Aaron Hecht reiterates PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) from Market Perform to Market Perform.

JMP Securities Reiterates Market Perform on PENN Entertainmentto Market Perform

<a href="https://dbm.maryland.gov/budget/Documents/operbudget/2026/proposed/FY2026BudgetPresentation.pdf" title="https://dbm.maryland.gov/budget/Documents/operbudget/2026/proposed/FY2026BudgetPresentation.pdf">https://dbm.maryland.gov/budget/Documents/operbudget/2026/proposed/FY2026BudgetPresentation.pdf</a>

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Throughout the last three months, 12 analysts have evaluated PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">5</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for PENN Entertainment, revealing an average target of $24.25, a high estimate of $30.00, and a low estimate of $19.00. Witnessing a positive shift, the current average has risen by 2.11% from the previous average price target of $23.75.
<img src="https://www.benzinga.com/files/images/story/2025/1735938057_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive PENN Entertainment. The following summary 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>David Katz</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$22.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Joseph Greff</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$27.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Chad Beynon</td>
<td>Macquarie</td>
<td>Raises</td>
<td>Outperform</td>
<td>$27.00</td>
<td>$26.00</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>Joseph Stauff</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$25.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$23.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$19.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Ben Chaiken</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$24.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Daniel Politzer</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Brandt Montour</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Ryan Sigdahl</td>
<td>Craig-Hallum</td>
<td>Maintains</td>
<td>Buy</td>
<td>$30.00</td>
<td>$30.00</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>
</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: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of PENN Entertainment compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for PENN Entertainment's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of PENN Entertainment's market position. Stay informed and make well-informed decisions with 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>All You Need to Know 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 Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, PENN Entertainment showcased positive performance, achieving a revenue growth rate of 1.22% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -2.24%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -1.2%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): PENN Entertainment's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -0.24%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: PENN Entertainment's debt-to-equity ratio is below the industry average. With a ratio of 3.69, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 12 Analyst Ratings Have To Say About PENN Entertainment

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended buying more Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>).
On Jan. 2, JMP Securities analyst Andrew Boone downgraded Uber from Market Outperform to Market Perform and <a href="https://www.benzinga.com/quote/UBER/analyst-ratings">maintained the price target of $95</a>.
The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) is a buy, Cramer said. &#8220;I think it's time to pick up that utility.&#8221;
On Dec. 6, AES increased its quarterly dividend from 17.25 cents to 17.595 cents per share.
Cramer said he doesn't like PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>).
On Dec. 13, JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $19 to $27.
When asked about Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), Cramer said, &#8220;It's been very, very tough to own this great steel maker.&#8221;
On Dec. 16, the company provided fourth-quarter guidance, expecting EPS of 55 cents to 65 cents, versus the consensus of 86 cents.
Lazard, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) is &#8220;really inexpensive,&#8221; the &#8220;Mad Money&#8221; host said.
On Dec. 20, Keefe, Bruyette &amp; Woods analyst Aidan Hall downgraded Lazard from Outperform to Market Perform and lowered the price target from $65 to $57.
Cramer recommended to hold on to Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>).
On Dec. 20, the FDA approved the company's Zepbound, a weight loss drug designed to treat moderate-to-severe obstructive sleep apnea in adults with obesity.
&#8220;I think the stock at 15 times earnings is fine,&#8221; Cramer said when asked about Labcorp Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LH#NYSE">LH</a>). &#8220;The problem is its healthcare, and people do not like the healthcare stocks.&#8221;
On Dec. 17, Morgan Stanley analyst Ricky Goldwasser maintained Labcorp with an Overweight and raised the price target from $260 to $270.
Price Action:
<ul>
<li>Uber shares gained 4.7% to settle at $63.17 on Thursday.</li>
<li>AES shares rose 1.4% to close at $13.05 during the session.</li>
<li>Penn Entertainment shares fell 2.9% to settle at $19.24.</li>
<li>Lazard shares fell 1.4% to settle at $50.74 on Thursday.</li>
<li>Eli Lilly shares gained 0.8% to $778.07 on Thursday.</li>
<li>Nucor shares fell 1.9% to settle at $114.48 on Thursday.</li>
<li>Labcorp shares fell 0.5% to close at $228.19.</li>
</ul>
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Photo: Courtesy of <a href="https://www.flickr.com/photos/ojbyrne/" target="_blank" rel="noreferrer noopener">Owen Byrne</a> on flickr

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Jefferies analyst David Katz maintains PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) with a Hold and raises the price target from $21 to $22.

Jefferies Maintains Hold on PENN Entertainment, Raises Price Target to $22

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>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/03/25</td>
<td>$420.00</td>
<td>$43.6K</td>
<td>6.9K</td>
<td>31.3K</td>
</tr>
<tr>
<td>FLWS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$10.00</td>
<td>$39.5K</td>
<td>118</td>
<td>14.1K</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$50.00</td>
<td>$888.0K</td>
<td>30.1K</td>
<td>8.2K</td>
</tr>
<tr>
<td>REAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$17.50</td>
<td>$134.5K</td>
<td>1.1K</td>
<td>5.1K</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$22.50</td>
<td>$106.4K</td>
<td>364</td>
<td>669</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$120.00</td>
<td>$235.0K</td>
<td>1.6K</td>
<td>314</td>
</tr>
<tr>
<td>BJRI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$40.00</td>
<td>$38.1K</td>
<td>6.4K</td>
<td>243</td>
</tr>
<tr>
<td>BKNG</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$4900.00</td>
<td>$52.4K</td>
<td>621</td>
<td>178</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$235.00</td>
<td>$32.5K</td>
<td>9.3K</td>
<td>151</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$95.00</td>
<td>$44.8K</td>
<td>1.6K</td>
<td>103</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a put option sweep that happens to be bearish, expiring in 4 day(s) on January 3, 2025. This event was a transfer of 35 contract(s) at a $420.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $43.6K, with a price of $1250.0 per contract. There were 6941 open contracts at this strike prior to today, and today 31301 contract(s) were bought and sold. 
• Regarding FLWS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLWS#NASDAQ">FLWS</a>), we observe a call option sweep with bearish sentiment. It expires in 81 day(s) on March 21, 2025. Parties traded 878 contract(s) at a $10.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $39.5K, with a price of $45.0 per contract. There were 118 open contracts at this strike prior to today, and today 14197 contract(s) were bought and sold. 
• For DKNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), we notice a call option trade that happens to be bearish, expiring in 172 day(s) on June 20, 2025. This event was a transfer of 6210 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $888.0K, with a price of $143.0 per contract. There were 30187 open contracts at this strike prior to today, and today 8221 contract(s) were bought and sold. 
• Regarding REAL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REAL#NASDAQ">REAL</a>), we observe a call option sweep with bearish sentiment. It expires in 137 day(s) on May 16, 2025. Parties traded 1495 contract(s) at a $17.50 strike. This particular call needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $134.5K, with a price of $90.0 per contract. There were 1133 open contracts at this strike prior to today, and today 5181 contract(s) were bought and sold. 
• For PENN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), we notice a call option sweep that happens to be bullish, expiring in 200 day(s) on July 18, 2025. This event was a transfer of 669 contract(s) at a $22.50 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $106.4K, with a price of $159.0 per contract. There were 364 open contracts at this strike prior to today, and today 669 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a call option trade that happens to be bearish, expiring in 746 day(s) on January 15, 2027. This event was a transfer of 250 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $235.0K, with a price of $940.0 per contract. There were 1685 open contracts at this strike prior to today, and today 314 contract(s) were bought and sold. 
• For BJRI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), we notice a call option sweep that happens to be bullish, expiring in 18 day(s) on January 17, 2025. This event was a transfer of 954 contract(s) at a $40.00 strike. This particular call needed to be split into 79 different trades to become filled. The total cost received by the writing party (or parties) was $38.1K, with a price of $40.0 per contract. There were 6483 open contracts at this strike prior to today, and today 243 contract(s) were bought and sold. 
• For BKNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), we notice a call option trade that happens to be neutral, expiring in 18 day(s) on January 17, 2025. This event was a transfer of 3 contract(s) at a $4900.00 strike. The total cost received by the writing party (or parties) was $52.4K, with a price of $17469.0 per contract. There were 621 open contracts at this strike prior to today, and today 178 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option trade with neutral sentiment. It expires in 81 day(s) on March 21, 2025. Parties traded 41 contract(s) at a $235.00 strike. The total cost received by the writing party (or parties) was $32.5K, with a price of $795.0 per contract. There were 9387 open contracts at this strike prior to today, and today 151 contract(s) were bought and sold. 
• Regarding SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we observe a put option sweep with bullish sentiment. It expires in 172 day(s) on June 20, 2025. Parties traded 48 contract(s) at a $95.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $44.8K, with a price of $935.0 per contract. There were 1624 open contracts at this strike prior to today, and today 103 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 news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

BABA

BJRI

BKNG

FLWS

REAL

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

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. 
Here's the list of options activity happening in today's session: 
<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>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/27/24</td>
<td>$430.00</td>
<td>$33.4K</td>
<td>6.9K</td>
<td>44.9K</td>
</tr>
<tr>
<td>PENN</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/27/24</td>
<td>$18.00</td>
<td>$114.5K</td>
<td>7.2K</td>
<td>5.0K</td>
</tr>
<tr>
<td>CPRI</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$30.00</td>
<td>$1.4 million</td>
<td>36.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$20.00</td>
<td>$35.1K</td>
<td>102.6K</td>
<td>1.5K</td>
</tr>
<tr>
<td>MLCO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.00</td>
<td>$115.2K</td>
<td>168</td>
<td>1.3K</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$31.5K</td>
<td>25.2K</td>
<td>1.0K</td>
</tr>
<tr>
<td>JD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$36.00</td>
<td>$168.1K</td>
<td>3.1K</td>
<td>628</td>
</tr>
<tr>
<td>MBLY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$13.00</td>
<td>$40.8K</td>
<td>1.5K</td>
<td>415</td>
</tr>
<tr>
<td>LEA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$105.00</td>
<td>$39.2K</td>
<td>64</td>
<td>182</td>
</tr>
<tr>
<td>PDD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$115.00</td>
<td>$37.3K</td>
<td>2.2K</td>
<td>102</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option sweep with bearish sentiment. It expires in 4 day(s) on December 27, 2024. Parties traded 30 contract(s) at a $430.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $33.4K, with a price of $1115.0 per contract. There were 6960 open contracts at this strike prior to today, and today 44923 contract(s) were bought and sold. 
• For PENN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), we notice a put option trade that happens to be neutral, expiring in 4 day(s) on December 27, 2024. This event was a transfer of 4982 contract(s) at a $18.00 strike. The total cost received by the writing party (or parties) was $114.5K, with a price of $23.0 per contract. There were 7265 open contracts at this strike prior to today, and today 5068 contract(s) were bought and sold. 
• For CPRI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>), we notice a put option trade that happens to be neutral, expiring in 25 day(s) on January 17, 2025. This event was a transfer of 1600 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $1.4 million, with a price of $880.0 per contract. There were 36834 open contracts at this strike prior to today, and today 1602 contract(s) were bought and sold. 
• For NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), we notice a call option sweep that happens to be bearish, expiring in 389 day(s) on January 16, 2026. This event was a transfer of 1000 contract(s) at a $20.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $35.1K, with a price of $35.0 per contract. There were 102646 open contracts at this strike prior to today, and today 1577 contract(s) were bought and sold. 
• For MLCO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLCO#NASDAQ">MLCO</a>), we notice a put option sweep that happens to be bullish, expiring in 389 day(s) on January 16, 2026. This event was a transfer of 1647 contract(s) at a $5.00 strike. This particular put needed to be split into 52 different trades to become filled. The total cost received by the writing party (or parties) was $115.2K, with a price of $70.0 per contract. There were 168 open contracts at this strike prior to today, and today 1324 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a call option sweep with bullish sentiment. It expires in 25 day(s) on January 17, 2025. Parties traded 50 contract(s) at a $25.00 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 $31.5K, with a price of $633.0 per contract. There were 25279 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• Regarding JD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), we observe a call option trade with bearish sentiment. It expires in 60 day(s) on February 21, 2025. Parties traded 625 contract(s) at a $36.00 strike. The total cost received by the writing party (or parties) was $168.1K, with a price of $269.0 per contract. There were 3187 open contracts at this strike prior to today, and today 628 contract(s) were bought and sold. 
• For MBLY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), we notice a put option sweep that happens to be bullish, expiring in 389 day(s) on January 16, 2026. This event was a transfer of 174 contract(s) at a $13.00 strike. This particular put needed to be split into 32 different trades to become filled. The total cost received by the writing party (or parties) was $40.8K, with a price of $235.0 per contract. There were 1530 open contracts at this strike prior to today, and today 415 contract(s) were bought and sold. 
• Regarding LEA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEA#NYSE">LEA</a>), we observe a call option sweep with bearish sentiment. It expires in 179 day(s) on June 20, 2025. Parties traded 77 contract(s) at a $105.00 strike. This particular call needed to be split into 35 different trades to become filled. The total cost received by the writing party (or parties) was $39.2K, with a price of $510.0 per contract. There were 64 open contracts at this strike prior to today, and today 182 contract(s) were bought and sold. 
• Regarding PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we observe a call option trade with bearish sentiment. It expires in 179 day(s) on June 20, 2025. Parties traded 41 contract(s) at a $115.00 strike. The total cost received by the writing party (or parties) was $37.3K, with a price of $910.0 per contract. There were 2285 open contracts at this strike prior to today, and today 102 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 news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CPRI

Citigourp Global Markets 2% Protected Notes Linked To The Djia

PENN Entertainment, Inc. ("PENN" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) is pleased to announce the launch of its stand-alone Hollywood Casino app in Pennsylvania. Built on PENN's proprietary technology platform, Hollywood Casino offers more than 700 iCasino games, a variety of daily promotions, and exciting jackpots.

PENN Entertainment Launches New Hollywood Casino App In Pennsylvania

PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) received a Wall Street upgrade Friday on a positive outlook for both its casino and <a href="https://www.benzinga.com/general/sports-betting">sports betting segments.</a>
The PENN Analyst: JPMorgan analyst Joseph Greff upgraded shares of Penn from Neutral to Overweight and raised the price target from $19 to $27.
Read Also: <a href="https://www.benzinga.com/news/24/11/41814090/penn-entertainment-stock-climbs-despite-q3-earnings-miss-whats-going-on">PENN Entertainment Stock Climbs Despite Q3 Earnings Miss: What&#8217;s Going On?</a>
The Analyst Takeaways: Penn has a favorable risk-reward going forward, Greff said in a new investor note.
The analyst said there is a sightline to the "bottoming of its regional land-based casino cashflow generation" and a path to modest growth for its retail projects.
"In addition, we see reasonably set expectations for near-term Interactive (OSB and iGaming) losses for the 4Q24 and 2025 with buy-side expectations for modestly positive EBITDA generation in 2026," Greff said.
Greff said ESPN Bet continues to be one of the biggest drivers for the stock.
"We see a scenario of modestly positive segment EBITDA as not priced in the shares and, importantly, is not that much more than PENN's estimated annual market access fees."
Penn pays Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) for the rights to the ESPN name and brand. Greff said if ESPN Bet is not profitable, the company could shut it down and "milk the $60m-ish of market access fees."
The analyst said company commentary said monthly active users were up 144% year-over-year for ESPN Bet with average handle per user up 64% month-over-month. Enhancements made by Penn to further integrate the ESPN brand into the platform ahead of the NFL season look to have paid off, the analyst added.
The analyst said if ESPN Bet isn't successful, there is still value of the company's land-based casinos and market access fees that sportsbooks pay the company, assigning a value of $26 for this segment.
Penn's $850 million being spent in 2024 and 2025 on four retail growth projects is highlighted by the analyst, which includes replacing a riverboat facility with a land-based casino and hotel, developing a new land-based casino and adding hotels for the Hollywood Columbus and M Resort properties.
"Net-net we see a favorable fundamentally driven risk-reward given improving free cash flow … and shrinking Interactive losses."
PENN Price Action: Penn stock is up 3.60% to $20.73 on Friday versus a 52-week trading range of $13.50 to $27.21. Penn stock is down 20% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports-betting/24/12/42345211/robinhood-ceo-vlad-tenev-says-sports-betting-comments-taken-a-little-bit-out-of-context-but-he-also-wouldnt-rule-it-out">Robinhood CEO Vlad Tenev Says Sports Betting Comments Taken &#8216;A Little Bit Out Of Context,&#8217; But He Also &#8216;Wouldn&#8217;t Rule It Out&#8217;</a></li>
</ul>
Photo: Shutterstock

Upgrades

Penn Stock Analyst Turns Bullish On ESPN Bet Strength, Casino Improvements: 'Favorable Risk-Reward'

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 will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<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>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/13/24</td>
<td>$430.00</td>
<td>$42.3K</td>
<td>17.9K</td>
<td>154.4K</td>
</tr>
<tr>
<td>LVS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/27/24</td>
<td>$54.00</td>
<td>$42.1K</td>
<td>14</td>
<td>1.0K</td>
</tr>
<tr>
<td>PDD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$130.00</td>
<td>$576.0K</td>
<td>36</td>
<td>800</td>
</tr>
<tr>
<td>PENN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$22.50</td>
<td>$38.3K</td>
<td>3.2K</td>
<td>670</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$145.00</td>
<td>$70.0K</td>
<td>2.2K</td>
<td>438</td>
</tr>
<tr>
<td>RH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$400.00</td>
<td>$69.2K</td>
<td>830</td>
<td>423</td>
</tr>
<tr>
<td>DHI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$160.00</td>
<td>$176.8K</td>
<td>254</td>
<td>361</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$125.00</td>
<td>$48.9K</td>
<td>4.1K</td>
<td>303</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$80.00</td>
<td>$26.4K</td>
<td>2.4K</td>
<td>78</td>
</tr>
<tr>
<td>VAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$100.00</td>
<td>$43.0K</td>
<td>3.6K</td>
<td>73</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• 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 bearish, is expiring today. Parties traded 252 contract(s) at a $430.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $42.3K, with a price of $168.0 per contract. There were 17962 open contracts at this strike prior to today, and today 154470 contract(s) were bought and sold. 
• For LVS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>), we notice a call option trade that happens to be bullish, expiring in 14 day(s) on December 27, 2024. This event was a transfer of 340 contract(s) at a $54.00 strike. The total cost received by the writing party (or parties) was $42.1K, with a price of $124.0 per contract. There were 14 open contracts at this strike prior to today, and today 1010 contract(s) were bought and sold. 
• Regarding PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we observe a call option trade with bearish sentiment. It expires in 217 day(s) on July 18, 2025. Parties traded 800 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $576.0K, with a price of $720.0 per contract. There were 36 open contracts at this strike prior to today, and today 800 contract(s) were bought and sold. 
• For PENN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), we notice a call option sweep that happens to be bullish, expiring in 125 day(s) on April 17, 2025. This event was a transfer of 201 contract(s) at a $22.50 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 $38.3K, with a price of $191.0 per contract. There were 3259 open contracts at this strike prior to today, and today 670 contract(s) were bought and sold. 
• For LEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on December 20, 2024. This event was a transfer of 369 contract(s) at a $145.00 strike. This particular put needed to be split into 46 different trades to become filled. The total cost received by the writing party (or parties) was $70.0K, with a price of $190.0 per contract. There were 2278 open contracts at this strike prior to today, and today 438 contract(s) were bought and sold. 
• For RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>), we notice a call option sweep that happens to be bearish, expiring in 35 day(s) on January 17, 2025. This event was a transfer of 14 contract(s) at a $400.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $69.2K, with a price of $4850.0 per contract. There were 830 open contracts at this strike prior to today, and today 423 contract(s) were bought and sold. 
• Regarding DHI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), we observe a call option sweep with bullish sentiment. It expires in 70 day(s) on February 21, 2025. Parties traded 340 contract(s) at a $160.00 strike. This particular call needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $176.8K, with a price of $520.0 per contract. There were 254 open contracts at this strike prior to today, and today 361 contract(s) were bought and sold. 
• For GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we notice a put option trade that happens to be bearish, expiring in 399 day(s) on January 16, 2026. This event was a transfer of 5 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $48.9K, with a price of $9790.0 per contract. There were 4118 open contracts at this strike prior to today, and today 303 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 sweep that happens to be bearish, expiring in 70 day(s) on February 21, 2025. This event was a transfer of 67 contract(s) at a $80.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $395.0 per contract. There were 2472 open contracts at this strike prior to today, and today 78 contract(s) were bought and sold. 
• For VAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAC#NYSE">VAC</a>), we notice a call option trade that happens to be bearish, expiring in 125 day(s) on April 17, 2025. This event was a transfer of 73 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $43.0K, with a price of $590.0 per contract. There were 3667 open contracts at this strike prior to today, and today 73 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.

PENN Entertainment shares are trading higher after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target  from $19 to $27.

JP Morgan analyst Joseph Greff upgrades PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) from Neutral to Overweight and raises the price target from $19 to $27.

JP Morgan Upgrades PENN Entertainment to Overweight, Raises Price Target to $27

Press Releases

PENN Entertainment to Report Third Quarter Results and Host Conference Call and Webcast on November 7

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PENN Entertainment Reports Third Quarter Results

PENN Entertainment Launches New Hollywood Casino App in Pennsylvania

PENN Entertainment Announces Partnership with Monumental Sports & Entertainment for Market Access in Washington, D.C.

ESPN BET Now Live in Washington, D.C.

PENN Entertainment to Report Fourth Quarter Results and Host Conference Call and Webcast on February 27

HG Vora Capital Management Nominates Three Highly Qualified Independent Director Candidates to PENN Entertainment Board

PENN Entertainment Confirms Receipt of Director Nominations

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