에 대한 최신 뉴스 PENN Entertainment (NASDAQ:PENN) 주식

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.

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PENN

펜 엔터테인먼트(NASDAQ:PENN)의 주가는 회사의 카지노 부문을 변화시킬 수 있는 인수와 관련된 보도로 목요일 시장 마감 직전에 급등했다. 무슨 일이 (What Happened): 로이터의 새로운 보도에 따르면 보이드 게이밍(NYSE:BYD)은 펜 엔터테인먼트에 접근해왔다. 이 보도는 펜의 주가가 2024년 현재까지 23% 하락했고 회사가 새로운 ESPN 벳(ESPN Bet) 온라인 스포츠 베팅 플랫폼으로 성장하는 데 어려움을 겪고 있는 가운데 나온 것이다.

펜 엔터테인먼트 주식, 인수 보도로 장 후반 급등: 투자자가 알아야 할 사항

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펜 엔터테인먼트(NASDAQ:PENN)의 주가는 회사가 ESPN 벳(Bet)과 PGA 오브 아메리카 간의 획기적인 다년간의 스포츠 베팅 파트너십을 발표한 후 화요일 상승했다. 펜 엔터테인먼트가 개발한 ESPN 벳은 2026년까지 PGA 챔피언십의 &#39;공식 스포츠 베팅 스폰서&#39;로 지정된다.

펜 엔터테인먼트, ESPN 벳이 PGA 챔피언십의 공식 스포츠 베팅 후원자로 선정된 후 주식 상승

PENN Entertainment Inc

PENNANT INTL GRP PLC by Pennant International 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

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: 
<ul>
<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

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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.

Options

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TSLA

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WIIM

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

Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) saw early success with the launch of event contracts ahead of the 2024 presidential election. Now the company appears to be eyeing the <a href="https://www.benzinga.com/general/sports-betting">sports betting space</a>.
What Happened: Robinhood held its first Investor Day in New York on Wednesday. CEO Vlad Tenev made headlines when he suggested that an expansion into sports betting was on the table.
When Tenev was asked about the potential for Robinhood to venture into sports betting, he said the company is &#8220;keenly looking into that space,&#8221; <a href="https://www.cnbc.com/2024/12/04/robinhood-considering-move-into-sports-betting-ceo-vlad-tenev-says.html">per</a> CNBC.
&#8220;Nothing to announce just yet, but it's so important to our customers and in culture that we're excited about it," Tenev said at the investor day event.
The sports betting talk comes after Robinhood&#8217;s <a href="https://www.benzinga.com/fintech/24/11/41783293/robinhood-reports-record-overnight-trading-volume-400-million-2024-election-contracts-traded">launch of event contracts</a> ahead of the 2024 presidential election, which saw strong traction. Robinhood said more than 400 million contracts were traded by over 500,000 Robinhood users.
Prediction markets, which let participants buy and sell contracts to each other, are different than sportsbooks that offer betting odds against the house. Robinhood would need to get approval from the Commodity Futures Trading Commission (CFTC) before it would be allowed to offer traditional sportsbook betting odds.
In a CNBC interview on &#8220;Squawk Box&#8221; Thursday morning, Tenev clarified his comments on sports betting. The Robinhood CEO explained that he believes his comments were &#8220;taken a little bit out of context,&#8221; although he didn&#8217;t rule out a swift move into the space.
&#8220;I wouldn&#8217;t expect us to launch sports betting soon. But I also wouldn&#8217;t rule it out,&#8221; Tenev said. 
Shares of DraftKings Inc (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>) and PENN Entertainment, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) traded slightly lower on Tenev&#8217;s comments before bouncing back Thursday morning. At last check, DraftKings was up 0.74% at $45.10, Flutter was up 0.76% at $280.14 and Penn Entertainment was down 0.37% at $21.83, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Check This Out: <a href="https://www.benzinga.com/general/sports/24/12/42257471/mark-cuban-hands-out-35m-in-bonuses-to-mavericks-employees-it-was-life-changing-money">Mark Cuban Hands Out $35M In Bonuses To Mavericks Employees: &#8216;It Was Life-Changing Money&#8217;</a>
Robinhood shares have more than tripled since the start of the year. The rally accelerated at the beginning of November as the company&#8217;s event contract offering soared in popularity.
November was an overall strong month for Robinhood with the company adding more than 400,000 users. Net deposits totaled $5 billion during the month and assets under custody grew to more than $190 billion.
Equity trading volumes were up more than 15% from October and up over 170% year-over-year. Crypto volumes jumped over 400% from October to November and rose over 600% year-over-year.
Robinhood said it will release its full November operating data next week.
HOOD Price Action: <a href="http://benzinga.com/quote/hood">Robinhood shares</a> were down 0.85% at $39.66 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/insights/short-sellers/24/12/42337133/looking-into-robinhood-marketss-recent-short-interest">Looking Into Robinhood Markets&#8217;s Recent Short Interest</a></li>
</ul>
Photo: Shutterstock.

HOOD

Robinhood CEO Vlad Tenev Says Sports Betting Comments Taken 'A Little Bit Out Of Context,' But He Also 'Wouldn't Rule It Out'

PENN Entertainment's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NYSE">PENN</a>) short percent of float has fallen 7.46% since its last report. The company recently reported that it has 18.40 million shares sold short, which is 13.65% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.42 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PENN Entertainment Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733247019_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PENN Entertainment has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PENN Entertainment's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PENN Entertainment's peer group average for short interest as a percentage of float is 4.57%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About PENN Entertainment?

Casinos and bookmakers in Great Britain will be forced to pay a £100m-a-year levy to fund research, education and treatment of gambling harms, under government plans to be announced as soon as this week.
Labour is understood to be poised to <a href="https://www.theguardian.com/society/article/2024/jul/21/labour-urged-to-follow-through-on-tories-promised-100m-gambling-levy">rubber-stamp the previous government's proposal</a> to do away with a voluntary system that allows industry operators to choose how much to donate to tackle damage caused by gambling and which organisations should receive the money.
<a href="https://www.theguardian.com/society/2024/nov/25/labour-poised-announce-ratify-100m-gambling-levy-addiction-charity#:~:text=Casinos%20and%20bookmakers%20in%20Great,as%20soon%20as%20this%20week" title="https://www.theguardian.com/society/2024/nov/25/labour-poised-announce-ratify-100m-gambling-levy-addiction-charity#:~:text=Casinos%20and%20bookmakers%20in%20Great,as%20soon%20as%20this%20week">https://www.theguardian.com/society/2024/nov/25/labour-poised-announce-ratify-100m-gambling-levy-addiction-charity#:~:text=Casinos%20and%20bookmakers%20in%20Great,as%20soon%20as%20this%20week</a>.

Macro Notification

General

Melco Resorts & Entertainment Limited - American Depositary Shares

MLCO

WYNN

'Labour poised to announce £100m levy on gambling companies' - The Guardian

Macquarie analyst Chad Beynon maintains PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) with a Outperform and raises the price target from $26 to $27.

Macquarie Maintains Outperform on PENN Entertainment, Raises Price Target to $27

PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) analysts highlight the ESPN Bet and Interactive segment as items to watch after the company missed third-quarter estimates for revenue and <a href="https://www.benzinga.com/news/24/11/41814090/penn-entertainment-stock-climbs-despite-q3-earnings-miss-whats-going-on">earnings per share. </a>
The PENN Analysts: 
<ul>
<li>Needham analyst Bernie McTernan reiterated a Buy rating on Penn Entertainment with a $26 price target.</li>
<li>Truist analyst Barry Jonas reiterated a Buy rating with a $23 price target.</li>
<li>Benchmark analyst Mike Hickey maintained a Hold rating with no price target.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236713/penn-entertainments-product-enhancements-and-espn-integration-could-spark-2025-grow">PENN Entertainment&#8217;s Product Enhancements And ESPN Integration Could Spark 2025 Growth, Says Analyst</a>
Needham on PENN: ESPN Bet showed improvement in the third quarter, McTernan said in a new investor note.
"The highlight on earnings for us were the strong underlying fundamentals for ESPN Bet in October, with handle growth showing acceleration from September to October," McTernan said.
ESPN Bet saw handle growth up 61% year-over-year in October, up from +42% in the third quarter, McTernan added.
Penn also reported early strength from its ESPN and ESPN Bet linking initiative, the analyst added.
The analyst said Penn's online sports betting segment could see improvement in 2025 and the iGaming segment could benefit from the launch of a standalone Hollywood Casino app.
McTernan remains cautious and conservative on Penn's Interactive segment and expects continued losses in 2025.
Truist on PENN: An in-line third quarter will likely carry over to the fourth quarter with early momentum showing, Jonas said in a new investor note.
"All eyes remain on ESPN Bet, with encouraging KPIs as PENN continues to improve the product," Jonas said.
The analyst said Penn is working to improve the ESPN bet product and fourth-quarter results could show the efforts paying off.
Penn will provide 2025 guidance in February, with the analyst expecting the company to be "playing defense" until the relocated Hollywood Casino Joliet opens in the second half of 2025.
"Penn moves increasingly on offense into 2026."
Benchmark on PENN: Third-quarter results were "weak" and the company faces rising competition and high expenses in new markets, Hickey said in a new investor note.
"We believe it is unlikely that PENN will reach breakeven in the Interactive segment in 2025 as projected, unless they either shift focus away from market share growth or hold back on investments in new markets," Hickey said.
The ESPN Bet launch in New York and ESPN account-linking could help the Interactive segment, but Hickey cautions that Penn needs to show market share gains and operating growth.
The analyst said Penn's retail segment also saw disappointing results, with revenue declines in multiple regions.
PENN Price Action: Penn stock is up 0.6% to $20.35 on Friday, versus a 52-week trading range of $13.50 to $27.20. Penn stock is down 21% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/23/09/34282538/four-nfl-teams-have-never-been-to-a-super-bowl-here-are-the-betting-payouts-if-history-is-">Four NFL Teams Have Never Been To A Super Bowl: The Betting Payouts If History Is Made This Season</a></li>
</ul>
Photo: Shutterstock

Reiteration

Penn Entertainment Analysts Say 'All Eyes Remain On ESPN Bet' After Q3 Earnings Miss

Benchmark analyst Mike Hickey reiterates PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) with a Hold.

Benchmark Reiterates Hold on PENN Entertainment

PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) underwent analysis by 10 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving 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">3</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">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">0</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">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $23.5, along with a high estimate of $30.00 and a low estimate of $19.00. Highlighting a 2.08% decrease, the current average has fallen from the previous average price target of $24.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1731067258_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of PENN Entertainment among financial experts becomes clear 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>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>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to PENN Entertainment. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of PENN Entertainment compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for PENN Entertainment's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into PENN Entertainment's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic 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>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>PENN Entertainment: A Financial Overview</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 Challenges: PENN Entertainment's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -0.7%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Net Margin: PENN Entertainment's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -1.63%, the company may face hurdles in effective cost management.
Return on Equity (ROE): PENN Entertainment's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -0.88%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -0.17%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: PENN Entertainment's debt-to-equity ratio is below the industry average. With a ratio of 3.73, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Basics of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
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.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 10 Analyst Projections For PENN Entertainment

Needham analyst Bernie McTernan reiterates PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) with a Buy and maintains $26 price target.

Needham Reiterates Buy on PENN Entertainment, Maintains $26 Price Target

PENN Entertainment shares are trading higher. The company reported Q3 financial results.

PENN Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) reported third-quarter financial results before the market opened on Thursday. Here&#8217;s<a href="https://www.benzinga.com/quote/PENN/earnings"> what you need to know.</a>
What To Know: PENN reported an adjusted loss of 25 cents per share, missing estimates for a loss of 24 cents per share, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. Revenue for the quarter came in at $1.64 billion, slightly below expectations of $1.66 billion, but up 1.24% from $1.62 billion in the same period last year.
As of Sept. 30, PENN had total liquidity of $1.8 billion, including $834 million in cash. The company said it has been investing in both physical and digital upgrades, especially through its ESPN BET platform, which expanded to 19 U.S. states this quarter after launching in New York in September.
PENN also said its accelerating hotel room renovations at L&#8217;Auberge Casino Lake Charles, with the upgrades expected to wrap up by January 2025. According to CEO Jay Snowden, these moves are part of PENN's broader strategy to improve customer retention and revenue per customer.
&#8220;Stable consumer demand in our retail business was offset by unfavorable hold in our Northeast segment and volume declines in our South segment associated with severe weather disruptions and accelerated hotel remodeling. The fourth quarter is off to a stronger start, led by several markets including Michigan, Ohio, and St. Louis,&#8221; Snowden said.
Outlook: PENN remains focused on expanding its Interactive offerings, with plans to launch an iCasino app in Pennsylvania in early 2025, pending regulatory approval. The company said its development projects are on schedule, with Hollywood Joliet expected to open ahead of plan in the latter half of 2025.
PENN Price Action: Penn Entertainment shares were up 4.04% at $20.02 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1727794380964569"><img loading="lazy" decoding="async" width="1024" height="551" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07095523/PENN-1024x551.png" alt="" class="wp-image-635481" style="width:475px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07095523/PENN-1024x551.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07095523/PENN-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07095523/PENN-768x413.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07095523/PENN.png 1138w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Photo via Shutterstock..

PENN Entertainment Stock Climbs Despite Q3 Earnings Miss: What's Going On?

PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) reported quarterly losses of $(0.25) per share which missed the analyst consensus estimate of $(0.24) by 4.17 percent. The company reported quarterly sales of $1.64 billion which missed the analyst consensus estimate of $1.66 billion by 0.99 percent. This is a 1.24 percent increase over sales of $1.62 billion the same period last year.

Earnings

Earnings Misses

PENN Entertainment Q3 2024 Adj EPS $(0.25) Misses $(0.24) Estimate, Sales $1.64B Miss $1.66B Estimate

ABNB

AENT

AGAE

ARMK

BALY

CENN

CVCO

DECK

DENN

EXPE

FEBO

FIGS

FNKO

GMBL

GOLF

GORV

JZXN

LAUR

LAZR

LIND

LOBO

MBLY

MGOL

MOND

NCLH

PATK

PRKS

PTON

SERV

SGHC

SPGC

TDUP

UXIN

WOOF

XPOF

Shares of companies within the broader consumer discretionary sector are trading higher. Investors may be reacting to the US presidential election and its impact on consumer spending.

Susquehanna analyst Joseph Stauff maintains PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) with a Positive and lowers the price target from $26 to $25.

Susquehanna Maintains Positive on PENN Entertainment, Lowers Price Target to $25

ESPN And PENN Entertainment Launch Account Linking Between ESPN BET And ESPN, Enabling Fans To Track Live, Upcoming, And Settled Bets On ESPN Platforms; Personalized Bets And Promotions Coming Soon

<a href="https://news.bloomberglaw.com/antitrust/doj-backs-suit-accusing-vegas-hotels-of-algorithmic-price-fixing">https://news.bloomberglaw.com/antitrust/doj-backs-suit-accusing-vegas-hotels-of-algorithmic-price-fixing</a>
<ul>
<li>DOJ says use of algorithms can have anticompetitive effects</li>
<li>Plaintiffs filed appeal after district court dismissed case</li>
</ul>
The Justice Department filed an amicus brief supporting customers who accused Ceasars Entertainment Inc. and other Las Vegas hotel companies of using algorithms to fix prices.
"Pricing algorithms can process more information more rapidly than humans aided by prior communications technologies," the DOJ said in a brief <a href="https://www.bloomberglaw.com/public/document/GibsonetalvCendynGroupLLCetalDocketNo2435769thCirJun072024CourtDo/1?doc_id=X1C3FTC0O19985PKTQSAR19NQ0H">filed</a> Thursday in the US Court of Appeals for the Ninth Circuit. "For this reason, such algorithms can increase the means and opportunities for collusion among competitors."
The Vegas case is the first of its kind to reach a federal appeals court and is expected to impact similar suits going forward.
A group of consumer plaintiffs who stayed at various Vegas hotels filed an <a href="https://www.bloomberglaw.com/public/document/GibsonetalvCendynGroupLLCetalDocketNo2435769thCirJun072024CourtDo?doc_id=XN44RIOULS87MRO4N2HPLUJE1C">appeal</a> to the Ninth Circuit after Judge Miranda Du of the US District Court for the District of Nevada <a href="https://news.bloomberglaw.com/antitrust/caesars-other-vegas-hotels-win-dismissal-of-price-fixing-suit">dismissed</a> the case in May, saying they failed to plausibly allege a tacit agreement between the hotels to inflate room prices using algorithms built by the Rainmaker Group, a Cendyn Group LLC subsidiary.
In her ruling, Du said she reached her <a href="https://news.bloomberglaw.com/antitrust/las-vegas-ruling-offers-roadmap-for-ai-clashes-with-antitrust">decision</a> because the hotel-casinos signed up for the pricing software services at different times and the hotels weren't bound by the software's recommendations. A nearly identical suit accusing Atlantic City hotel-casinos was <a href="https://news.bloomberglaw.com/antitrust/hotel-casino-rulings-reveal-flaws-in-ai-price-fixing-allegations">dismissed</a> late last month on similar grounds.
The DOJ rejected Du's notion that the freedom to reject the software's pricing recommendations meant no collusion took place.

Legal

'DOJ Backs Suit Accusing Vegas Hotels Of Algorithmic Price-Fixing' - Bloomberg Law

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