Penn National Gaming Inc. ($PENN) Stock Forecast: Up 9.8% Today

What is Penn National Gaming Inc.?

PENN Entertainment (NASDAQ: PENN) is a company in the entertainment industry, known for its gaming and gambling offerings. The stock had a strong bullish movement today.

Why is Penn National Gaming Inc. going up?

PENN stock is up 9.8% on Sep 13, 2024 16:51

• 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.

PENN Price Chart

PENN News

Smart Money Is Betting Big In PENN Options - PENN Entertainment ( NASDAQ:PENN )

Investors with a lot of money to spend have taken a bullish stance on PENN Entertainment PENN. 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.

https://www.benzinga.com/insights/options/24/09/40857640/smart-money-is-betting-big-in-penn-options

$4M Bet On This Energy Stock? Check Out These 3 Stocks Executives Are Buying - PENN Entertainment ( NASDAQ:PENN )

Although U.S. stocks closed higher on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock.

https://www.benzinga.com/trading-ideas/long-ideas/24/09/40850889/4m-bet-on-this-energy-stock-check-out-these-3-stocks-executives-are-buying

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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.

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.

28.05.2024 - PENN Stock was up 5.4%

• PENN Entertainment's bullish movement is a result of its expanded partnership with Ticketmaster, granting exclusive access to live events and immersive experiences for over 30 million PENN Play members.
• The timing of this partnership aligns with a growing global demand for live events and loyalty programs that offer unique perks, attracting fans actively seeking such benefits.
• Through the enhancement of its loyalty rewards program and the provision of distinct advantages via Ticketmaster, PENN Entertainment is well-positioned to meet the escalating need for live event experiences. This strategic move has resonated positively with investors, leading to the bullish market movement.

19.06.2024 - PENN Stock was down 6.3%

• The bearish movement in PENN stock today can be attributed to the announcement of layoffs, which has raised concerns among investors about the company's overall business performance.
• The job cuts, aimed at enhancing operational efficiencies and supporting growth for ESPN Bet, have led to uncertainty about the company's future prospects.
• Despite CEO Jay Snowden's reassurances about the layoffs being necessary for improvement post-acquisition of theScore, investors seem jittery about the lack of business momentum.
• The market reaction indicates that investors may be growing impatient with PENN Entertainment's ability to deliver on its strategic initiatives, leading to the decline in stock value.

26.06.2024 - PENN Stock was up 5.4%

• Noteworthy options trading activities reveal a prevailing bullish sentiment among traders, which reflects positive perceptions regarding PENN Entertainment.
• Significant bullish actions from financial institutions possibly indicate strong internal confidence or optimistic forecasts for the company's future.
• The surge in bullish trading could be influenced by recent favorable industry events, suggesting potential revenue increase or notable partnerships for PENN Entertainment.

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.