Pinnacle Entertainment, Inc. (NASDAQ:PNK) Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were purchased at an average cost of $18.85 per share, with a total value of $407,160.00. Following the transaction, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Pinnacle Entertainment, Inc. (PNK) opened at 20.26 on Wednesday. The stock has a market capitalization of $1.17 billion, a PE ratio of 71.84 and a beta of 1.31. Pinnacle Entertainment, Inc. has a 12 month low of $11.36 and a 12 month high of $20.46. The company’s 50-day moving average is $19.42 and its 200-day moving average is $19.42.
Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $647.36 million. During the same period last year, the company earned ($8.04) earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Pinnacle Entertainment, Inc. will post $0.79 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in PNK. JPMorgan Chase & Co. lifted its stake in Pinnacle Entertainment by 469.3% in the second quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock worth $29,308,000 after acquiring an additional 1,222,680 shares during the period. Thrivent Financial For Lutherans lifted its stake in Pinnacle Entertainment by 132.3% in the first quarter. Thrivent Financial For Lutherans now owns 1,653,300 shares of the company’s stock worth $32,272,000 after acquiring an additional 941,450 shares during the period. Renaissance Technologies LLC lifted its stake in Pinnacle Entertainment by 339.8% in the second quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock worth $20,378,000 after acquiring an additional 796,800 shares during the period. Bank of New York Mellon Corp lifted its stake in Pinnacle Entertainment by 77.4% in the second quarter. Bank of New York Mellon Corp now owns 1,167,335 shares of the company’s stock worth $23,065,000 after acquiring an additional 509,133 shares during the period. Finally, Sound Point Capital Management LP purchased a new stake in Pinnacle Entertainment in the first quarter worth about $9,172,000. 89.59% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on PNK shares. BidaskClub raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Stifel Nicolaus reissued a “hold” rating and set a $23.00 price target on shares of Pinnacle Entertainment in a research report on Friday, August 11th. Zacks Investment Research raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Barclays PLC increased their price target on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $21.83.
About Pinnacle Entertainment
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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