Pinnacle Entertainment, Inc. (NASDAQ:PNK) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, July 27th.
A number of other research analysts also recently issued reports on PNK. ValuEngine upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, May 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 increased their price objective on Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 30th. Telsey Advisory Group increased their price objective on Pinnacle Entertainment from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 10th. Finally, Deutsche Bank AG increased their price objective on Pinnacle Entertainment from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.86.
Pinnacle Entertainment (NASDAQ:PNK) opened at 20.14 on Thursday. The company has a 50-day moving average of $19.54 and a 200-day moving average of $19.07. The company has a market cap of $1.16 billion, a PE ratio of 71.42 and a beta of 1.31. Pinnacle Entertainment has a 52 week low of $11.10 and a 52 week high of $22.10.
Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.07. Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The business had revenue of $653.60 million during the quarter, compared to analysts’ expectations of $647.36 million. During the same quarter in the previous year, the company posted ($8.04) EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Pinnacle Entertainment will post $0.83 EPS for the current year.
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In other Pinnacle Entertainment news, EVP Neil E. Walkoff sold 60,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $19.14, for a total transaction of $1,148,400.00. Following the completion of the transaction, the executive vice president now owns 282,076 shares of the company’s stock, valued at $5,398,934.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PNK. Acadian Asset Management LLC boosted its position in shares of Pinnacle Entertainment by 3,315.8% in the first quarter. Acadian Asset Management LLC now owns 682,745 shares of the company’s stock worth $13,328,000 after buying an additional 662,757 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Pinnacle Entertainment during the first quarter worth $409,000. Teachers Advisors LLC purchased a new position in shares of Pinnacle Entertainment during the fourth quarter worth $1,363,000. UBS Asset Management Americas Inc. purchased a new position in shares of Pinnacle Entertainment during the fourth quarter worth $275,000. Finally, Norges Bank purchased a new position in shares of Pinnacle Entertainment during the fourth quarter worth $17,389,000. Hedge funds and other institutional investors own 90.76% 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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