BidaskClub upgraded shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) from a sell rating to a hold rating in a research note published on Monday.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a hold rating and issued a $23.00 target price on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of Pinnacle Entertainment from a sell rating to a hold rating in a research note on Saturday, August 12th. Finally, Barclays PLC increased their target price on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the company an overweight rating in a research note on Tuesday, May 30th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $21.83.
Shares of Pinnacle Entertainment (NASDAQ PNK) opened at 20.23 on Monday. The firm has a market cap of $1.17 billion, a PE ratio of 71.74 and a beta of 1.31. Pinnacle Entertainment has a 52 week low of $11.36 and a 52 week high of $20.46. The firm’s 50-day moving average price is $19.42 and its 200 day moving average price is $19.42.
Pinnacle Entertainment (NASDAQ:PNK) last released 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). Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The company had revenue of $653.60 million during the quarter, compared to the consensus estimate of $647.36 million. During the same quarter in the previous year, the business posted ($8.04) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. Equities analysts anticipate that Pinnacle Entertainment will post $0.79 EPS for the current year.
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In other news, Director Jaynie M. Studenmund sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $19.89, for a total transaction of $397,800.00. Following the completion of the sale, the director now owns 78,230 shares of the company’s stock, valued at $1,555,994.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Neil E. Walkoff sold 60,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 282,076 shares of the company’s stock, valued at approximately $5,398,934.64. The disclosure for this sale can be found here. 8.33% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PNK. Meeder Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment during the second quarter worth approximately $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment during the first quarter worth approximately $140,000. Pacad Investment Ltd. increased its holdings in shares of Pinnacle Entertainment by 212.3% during the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after buying an additional 6,580 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Pinnacle Entertainment during the first quarter worth approximately $220,000. Finally, Airain ltd acquired a new stake in shares of Pinnacle Entertainment during the first quarter worth approximately $250,000. 89.59% of the stock is owned by institutional investors.
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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