Pinnacle Entertainment, Inc. (NASDAQ:PNK) shares hit a new 52-week high during trading on Monday . The company traded as high as $27.84 and last traded at $27.20, with a volume of 405000 shares trading hands. The stock had previously closed at $26.93.
A number of research analysts recently commented on PNK shares. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Telsey Advisory Group increased their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. Finally, Bank of America Corporation increased their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $27.57.
The company has a debt-to-equity ratio of -11.36, a current ratio of 0.71 and a quick ratio of 0.68. The company has a market cap of $1,596.03, a price-to-earnings ratio of 36.55, a P/E/G ratio of 1.66 and a beta of 1.38.
Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $647.40 million for the quarter, compared to analysts’ expectations of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. research analysts expect that Pinnacle Entertainment, Inc. will post 0.81 earnings per share for the current year.
In other news, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the completion of the acquisition, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jaynie M. Studenmund sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $19.89, for a total value of $397,800.00. Following the completion of the transaction, the director now owns 78,230 shares in the company, valued at approximately $1,555,994.70. The disclosure for this sale can be found here. 8.33% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Highbridge Capital Management LLC boosted its holdings in Pinnacle Entertainment by 8.9% in the third quarter. Highbridge Capital Management LLC now owns 40,136 shares of the company’s stock valued at $856,000 after acquiring an additional 3,278 shares during the last quarter. Caxton Associates LP boosted its holdings in Pinnacle Entertainment by 50.3% in the third quarter. Caxton Associates LP now owns 172,800 shares of the company’s stock valued at $3,682,000 after acquiring an additional 57,800 shares during the last quarter. PEAK6 Investments L.P. bought a new position in Pinnacle Entertainment in the third quarter valued at about $3,351,000. Engineers Gate Manager LP boosted its holdings in Pinnacle Entertainment by 64.3% in the third quarter. Engineers Gate Manager LP now owns 77,841 shares of the company’s stock valued at $1,659,000 after acquiring an additional 30,466 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Pinnacle Entertainment in the third quarter valued at about $688,000. Institutional investors and hedge funds own 89.48% of the company’s stock.
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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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