NEW YORK, Dec. 27, 2025, 5:44 a.m. ET — Market closed
PENN Entertainment, Inc. (NASDAQ: PENN) heads into the weekend with its stock back on the front foot after a post-Christmas trading session that was short on catalysts but not short on positioning. PENN shares finished Friday’s regular session at $15.10, up 3.14% from the prior close, with the day’s trading range spanning roughly $14.53 to $15.15 on about 2.76 million shares. [1]
The move came as Wall Street largely “caught its breath” in thin holiday volume, with the major U.S. indices ending only slightly lower—an environment that can exaggerate single-stock moves and sector rotations. [2]
Where PENN stock stands right now
Friday’s gain snapped a brief skid for PENN and outpaced parts of the broader gaming-and-betting peer set on the day, even as the broader market drifted. MarketWatch’s market recap noted PENN’s rally broke a two-day losing streak and left the stock still well below its 52-week high of $23.08. [3]
As of early Saturday in New York, the U.S. stock market is closed for the weekend, meaning there is no premarket or regular-session price discovery until Monday. The last widely quoted price remains anchored to Friday’s close around $15.10.
The bigger tape: “Santa Claus rally” season meets light liquidity
Friday’s session landed in the heart of the market’s so-called “Santa Claus rally” window (the last five trading days of the year and first two of the next). Reuters quoted Ryan Detrick, chief market strategist at Carson Group, framing the day as a pause after a strong run and noting there may still be “upward bias” as the seasonal period continues—while warning that volatility is simply the “toll” investors pay for long-run returns. [4]
For PENN, that macro setup matters because the company sits in consumer discretionary, a sector that can swing with risk appetite, spending expectations, and year-end flows. Reuters also noted consumer discretionary lagged sectors on the day—another reason individual names can diverge sharply in quiet markets. [5]
What’s “new” on PENN in the last 24–48 hours: price action and filings, not fresh corporate announcements
Over the past two days, the most broadly circulated PENN headlines have centered on:
- The stock’s Friday pop in a quiet market session, including how it stacked up versus peers and how volume compared with recent averages. [6]
- A fresh institutional filing story: MarketBeat reported that Harbor Capital Advisors Inc. cut its PENN stake substantially in the third quarter, selling 465,592 shares and retaining 157,213 shares (MarketBeat pegged the remaining position at about $3.03 million at quarter-end). [7]
- A casino-stock watchlist item: MarketBeat’s screener flagged PENN among casino-related names with elevated recent dollar trading volume, alongside DraftKings and MGM. [8]
That mix is important context: when there’s no major same-day corporate press release, stocks like PENN often trade on positioning, peer sympathy moves, and narrative momentum—especially in holiday liquidity.
The core narrative investors keep coming back to: PENN’s post-ESPN BET reset
The biggest strategic backdrop for PENN remains its pivot away from the ESPN BET branding arrangement and toward a refocus on iCasino and a rebrand to theScore Bet.
In a November ESPN press release announcing the early termination, PENN CEO Jay Snowden said the company would “refocus” its digital strategy on its growing iCasino business while continuing to leverage PENN’s “omnichannel advantage” as a large regional casino operator. [9]
The same release also includes a key data point from Jimmy Pitaro, Chairman of ESPN, who said ESPN drove over 2.9 million new users into PENN’s ecosystem during the relationship. [10]
Snowden added that PENN planned to rebrand its U.S. online sports betting offering to theScore Bet, leveraging theScore media’s reach (PENN cited roughly 4 million monthly active users across North America for theScore’s media app). [11]
And by early December, industry trade coverage reported PENN had completed the rebrand to theScore Bet and had its online sports betting product live in 21 U.S. jurisdictions, including Missouri. [12]
Why this matters for PENN stock right now: the market has been trying to handicap whether PENN’s digital business can improve unit economics by leaning more heavily into iCasino (typically higher-margin than pure online sports betting) while using sports betting as a top-of-funnel channel—without the prior ESPN-branded customer acquisition costs.
Analyst forecasts: what Wall Street thinks PENN is worth
On the Street, the headline forecast picture remains mixed—but with meaningful upside embedded in targets.
MarketBeat’s analyst aggregation shows:
- Consensus rating: “Hold” (with a split across buy/hold/sell ratings)
- Average 12-month price target: $21.25
- Range of targets: $15.00 (low) to $26.00 (high) [13]
At Friday’s close near $15, that average target implies roughly 40% upside, which is large enough to be meaningful—but also a clue that analysts see a wide distribution of outcomes (execution risk, competitive intensity, and regulatory variability tend to widen forecast dispersion in gaming and digital wagering). [14]
What investors should know before the next session
With markets closed today, the key is preparing for what could move PENN when trading reopens Monday:
1) Watch for weekend headlines tied to digital wagering and regulation.
Sports betting and iGaming names can gap on policy developments, competitive announcements, or partnerships—especially when liquidity returns after a quiet holiday stretch. PENN’s strategic messaging around theScore Bet and iCasino remains a primary driver of sentiment. [15]
2) Don’t ignore positioning signals from institutions and insiders.
The Harbor Capital Advisors stake reduction is backward-looking (a Q3 disclosure), but it still shapes the ownership narrative. Meanwhile, MarketBeat also highlighted insider buying activity in recent weeks, including purchases by CFO Felicia Hendrix and director David A. Handler (per disclosures summarized in its report). [16]
3) Use clear reference levels for risk management.
PENN remains in a wide 52-week band (roughly $13.24 to $23.08), so it often trades more like a “range stock” than a steady compounder. [17]
On the technical side, MarketBeat noted PENN’s 50-day and 200-day moving averages (useful reference points many investors track), which can become inflection levels if Monday brings a broader risk-on or risk-off tone. [18]
4) Keep an eye on the market regime as the year ends.
Friday’s market action was defined by low conviction and light volume. Reuters’ Detrick described it as a pause after a strong rally and emphasized that volatility is normal—especially heading into a new year. If broader indices resume a “Santa Claus rally” pattern, higher-beta consumer names can move disproportionately. [19]
Next catalysts: earnings timing and what to verify
One practical wrinkle for investors: earnings dates can differ across market calendars until the company confirms. MarketBeat lists an estimated earnings date of Feb. 26, 2026, noting PENN has not confirmed the next publication date. [20]
TipRanks, meanwhile, displays a Jan. 29, 2026 report date and labels it “confirmed.” [21]
Given that mismatch, investors should treat the next earnings date as a “watch item” and verify via PENN’s official communications or SEC filings once the company posts the formal schedule. [22]
Bottom line for PENN stock heading into Monday
PENN stock’s Friday bounce put it back on traders’ radar in a market that’s drifting through year-end seasonality, but the longer-term debate hasn’t changed: the stock is still priced like the market wants proof that PENN’s post-ESPN BET strategy—centered on theScore Bet, iCasino growth, and omnichannel cross-sell—can produce durable profitability in a brutally competitive digital wagering landscape. [23]
When trading reopens, expect the next decisive move to come less from weekend price mechanics (there aren’t any) and more from whichever force shows up first on Monday: broad risk appetite, sector momentum, or a new headline that reframes the digital strategy story. [24]
References
1. www.marketwatch.com, 2. www.reuters.com, 3. www.marketwatch.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.marketwatch.com, 7. www.marketbeat.com, 8. www.marketbeat.com, 9. espnpressroom.com, 10. espnpressroom.com, 11. espnpressroom.com, 12. www.sportsbusinessjournal.com, 13. www.marketbeat.com, 14. www.marketbeat.com, 15. espnpressroom.com, 16. www.marketbeat.com, 17. stockanalysis.com, 18. www.marketbeat.com, 19. www.reuters.com, 20. www.marketbeat.com, 21. www.tipranks.com, 22. www.marketbeat.com, 23. espnpressroom.com, 24. www.reuters.com
