BidaskClub upgraded shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) from a hold rating to a buy rating in a research note released on Saturday, October 7th.
Several other analysts also recently commented on the company. Stifel Nicolaus reaffirmed a hold rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Zacks Investment Research raised Pinnacle Entertainment from a sell rating to a hold rating in a research note on Saturday, August 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Pinnacle Entertainment presently has an average rating of Hold and a consensus price target of $21.80.
Shares of Pinnacle Entertainment (PNK) traded up 0.41% during mid-day trading on Friday, reaching $24.48. The company’s stock had a trading volume of 95,834 shares. The company’s 50 day moving average price is $21.50 and its 200-day moving average price is $21.50. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 86.81 and a beta of 1.30. Pinnacle Entertainment has a 1-year low of $11.36 and a 1-year high of $24.94.
Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). The firm had revenue of $653.60 million during the quarter, compared to analysts’ expectations of $647.36 million. Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($8.04) earnings per share. Analysts predict that Pinnacle Entertainment will post $0.75 earnings per share for the current fiscal year.
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In related news, Director Jaynie M. Studenmund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $19.89, for a total value of $397,800.00. Following the sale, the director now owns 78,230 shares in the company, valued at approximately $1,555,994.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Neil E. Walkoff sold 60,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $19.14, for a total value of $1,148,400.00. Following the sale, the executive vice president now owns 282,076 shares in the company, valued at approximately $5,398,934.64. The disclosure for this sale can be found here. Insiders own 8.33% of the company’s stock.
A number of large investors have recently made changes to their positions in PNK. Sterling Capital Management LLC lifted its stake in shares of Pinnacle Entertainment by 0.6% during the 2nd quarter. Sterling Capital Management LLC now owns 52,670 shares of the company’s stock worth $1,041,000 after purchasing an additional 289 shares during the period. Prudential Financial Inc. lifted its stake in shares of Pinnacle Entertainment by 0.8% during the 2nd quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock worth $788,000 after purchasing an additional 330 shares during the period. SG Americas Securities LLC lifted its stake in shares of Pinnacle Entertainment by 10.4% during the 1st quarter. SG Americas Securities LLC now owns 14,145 shares of the company’s stock worth $276,000 after purchasing an additional 1,338 shares during the period. Voya Investment Management LLC lifted its stake in shares of Pinnacle Entertainment by 7.5% during the 2nd quarter. Voya Investment Management LLC now owns 28,303 shares of the company’s stock worth $559,000 after purchasing an additional 1,974 shares during the period. Finally, Nationwide Fund Advisors lifted its stake in shares of Pinnacle Entertainment by 5.3% during the 2nd quarter. Nationwide Fund Advisors now owns 48,356 shares of the company’s stock worth $956,000 after purchasing an additional 2,428 shares during the period. Hedge funds and other institutional investors own 89.58% 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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