Pinnacle Entertainment, Inc. (NASDAQ:PNK) Director Jaynie M. Studenmund sold 20,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $19.89, for a total value of $397,800.00. Following the transaction, the director now owns 78,230 shares of the company’s stock, valued at $1,555,994.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Pinnacle Entertainment, Inc. (PNK) traded up 1.46% on Friday, reaching $19.43. The company had a trading volume of 1,252,655 shares. The stock has a market capitalization of $1.12 billion, a P/E ratio of 68.90 and a beta of 1.31. Pinnacle Entertainment, Inc. has a 1-year low of $11.36 and a 1-year high of $19.61. The stock’s 50 day moving average is $19.12 and its 200-day moving average is $18.50.
Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). Pinnacle Entertainment had a negative return on equity of 8.88% and a net margin of 0.68%. The business had revenue of $653.60 million for the quarter, compared to analyst estimates of $647.36 million. During the same quarter in the previous year, the firm posted ($8.04) EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts predict that Pinnacle Entertainment, Inc. will post $0.79 EPS for the current fiscal year.
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A number of equities research analysts have issued reports on the company. BidaskClub downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Zacks Investment Research downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Barclays PLC lifted their price objective on Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a research report on Friday, August 11th. Finally, ValuEngine raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, May 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.83.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment in the 2nd quarter worth approximately $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth approximately $140,000. Pacad Investment Ltd. grew its holdings in shares of Pinnacle Entertainment by 212.3% in the 2nd quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after acquiring an additional 6,580 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth approximately $220,000. Finally, Airain ltd acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth approximately $250,000. Institutional investors and hedge funds own 89.82% of the company’s stock.
Pinnacle Entertainment Company Profile
Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.
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