Penn National Gaming Inc. ($PENN) Stock Forecast: Down 5.0% Today

What is Penn National Gaming Inc.?

PENN is a well-known entertainment company that operates various gaming properties. The stock has been closely watched by investors due to its performance in the gaming industry.

Why is Penn National Gaming Inc. going down?

PENN stock is down 5.0% on Oct 31, 2024 18:08

• The bearish movement in PENN's stock today is linked to market expectations of a decline in Q3 earnings.
• Investors could be responding to subdued expectations for a positive earnings outcome, prompting a sell-off of the stock.
• Concerns about PENN's upcoming earnings report may be influencing today's bearish market trend.

PENN Price Chart

PENN Technical Analysis

PENN News

Earnings Preview: PENN Entertainment ( PENN ) Q3 Earnings Expected to Decline

PENN Entertainment (PENN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

https://www.zacks.com/stock/news/2361933/earnings-preview-penn-entertainment-penn-q3-earnings-expected-to-decline

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Penn National Gaming Inc. Price History

04.08.2024 - PENN Stock was up 5.7%

• Despite the YTD decline, today's strong bullish movement in PENN could be attributed to the following factors:
• Potential buying interest from investors looking to capitalize on the dip in the stock price.
• Positive sentiment surrounding the company's strong gaming performance, sports betting operations, and strategic retail investments.
• Unusual options activity indicating a bullish stance from investors with significant capital, potentially driving up the stock price.
• The combination of these factors might have sparked renewed confidence in PENN, leading to the bullish movement observed today.

25.08.2024 - PENN Stock was down 5.1%

• Unusual options activity showing a bearish stance on PENN Entertainment might indicate a lack of confidence or potential downside expectations from investors with significant capital.
• The bearish movement could be attributed to concerns about the company's financial performance, competitive pressures, or broader market sentiment impacting the gaming industry.
• It's essential for investors to monitor how these options positions evolve to gauge the potential future direction of PENN's stock price.

31.09.2024 - PENN Stock was down 5.0%

• The bearish movement in PENN's stock today is linked to market expectations of a decline in Q3 earnings.
• Investors could be responding to subdued expectations for a positive earnings outcome, prompting a sell-off of the stock.
• Concerns about PENN's upcoming earnings report may be influencing today's bearish market trend.

08.09.2024 - PENN Stock was up 2.0%

• PENN shares experienced a surge following the company's unveiling of new retail operations guidance at an investor event in Las Vegas, demonstrating a strong business approach and significant advancements.
• The optimistic market trend reflects investor trust in PENN's potential for future expansion and operational effectiveness.
• The announcement is believed to have bolstered shareholder confidence and enticed new investors, driving the bullish movement in PENN's stock price today.

06.08.2024 - PENN Stock was down 5.3%

• The short percent of float for PENN has decreased, indicating a potential decrease in bearish sentiment among investors.
• Margin concerns seem to be impacting investor confidence despite the company's strong gaming performance and sports betting operations.
• The stock's underperformance compared to industry peers like DoubleDown Interactive and PlayAGS may be contributing to the bearish trend.
• Unusual bullish options activity suggests that some investors are still optimistic about PENN's future prospects, despite the current market movement.

13.08.2024 - PENN Stock was up 9.8%

• Smart money is showing a bullish stance on PENN Entertainment by betting big on options, indicating confidence in the company's future prospects.
• The $4M bet on the stock and insider trades suggest that executives and insiders are optimistic about PENN's performance, further boosting investor sentiment.
• The combination of institutional investors and insider buying activity could have fueled positive market sentiment, leading to the strong bullish movement in PENN's stock today.

13.08.2024 - PENN Stock was up 7.5%

• The bullish movement in PENN's stock price could be attributed to significant insider trades, indicating confidence in the company's future prospects and potentially attracting more investors.
• The decrease in PENN's short percent of float by 8.03% suggests a reduction in bearish sentiment towards the stock, possibly leading to a short squeeze scenario where short sellers rush to cover their positions, driving the stock price higher.
• The combination of insider buying and a decrease in short interest could have created a positive momentum for PENN Entertainment, driving the stock price up in today's trading session.

02.07.2024 - PENN Stock was down 5.4%

• PENN stock experienced a bearish movement today, likely due to the expected decline in Q2 earnings.
• Investors may have reacted negatively to the lack of optimistic expectations for earnings, leading to a sell-off of the stock.
• The market sentiment towards PENN could be cautious until the actual earnings report is released, as investors await further clarity on the company's financial performance.

06.07.2024 - PENN Stock was up 5.1%

• Despite anticipated lower Q2 earnings, PENN Entertainment defied expectations by showing strong bullish movement, hinting at favorable developments beyond financial figures like revenue and EPS.
• Investors seemingly responded favorably to the company surpassing Wall Street's projections on key metrics, which fostered increased optimism about PENN's future performance.
• The stock's upward trend might be attributed to positive guidance or strategic disclosures made by PENN Entertainment's leadership team, igniting investor confidence and pushing the stock price up.

08.07.2024 - PENN Stock was up 5.1%

• PENN exceeded analyst expectations by reporting a quarterly loss of 18 cents per share, which boosted investor confidence.
• The solid results from PENN's retail properties suggested a robust performance in their main business segment.
• A new SEC filing by PENN possibly brought about positive developments, contributing to the stock's upward momentum.
• Despite the net loss, CEO Jay Snowden's optimistic outlook for PENN and the launch of ESPN BET likely played a role in driving investor enthusiasm and the stock's rise.

08.07.2024 - PENN Stock was up 6.6%

• JPMorgan raising PENN Entertainment's target to $19 on ESPN BET outlook likely boosted investor confidence and contributed to the bullish movement.
• PENN Entertainment beating EPS and revenue estimates for Q2 2024 showcased the company's strong financial performance, leading to increased investor interest.
• The positive market reaction to PENN's Q2 earnings report indicates that investors are optimistic about the company's growth prospects and financial health.
• The filing of a new SEC report by PENN Entertainment may have also provided additional information or updates that reassured investors, further supporting the bullish market movement.

15.07.2024 - PENN Stock was up 5.7%

• A drop of 8.03% in short interest potentially supported the bullish movement, indicating reduced pressure from short selling could drive the stock price higher.
• The 18% surge in the stock value could be linked to favorable sentiment attributed to the company's stronger-than-expected Q2 earnings and revenue surpassing projections.
• Despite underperformance in specific segments, surpassing overall earnings estimates likely increased investor trust, influencing the upward trajectory of the stock.
• Though there were varied analyst perspectives on the future of PENN, the upbeat earnings report possibly outweighed some uncertainties, contributing to the bullish market movements.