Pinnacle Entertainment, Inc. (PNK) Rating Increased to Hold at BidaskClub

Pinnacle Entertainment, Inc. (NASDAQ:PNK) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other brokerages have also commented on PNK. Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.00 target price on shares of Pinnacle Entertainment in a research report on Friday, August 11th. Zacks Investment Research raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Barclays PLC boosted their price objective on Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, May 30th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.83.

Pinnacle Entertainment (NASDAQ PNK) opened at 20.26 on Monday. The stock’s 50 day moving average price is $19.42 and its 200 day moving average price is $19.42. Pinnacle Entertainment has a 52-week low of $11.36 and a 52-week high of $20.46. The firm has a market capitalization of $1.17 billion, a PE ratio of 71.84 and a beta of 1.31.

Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results 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 firm had revenue of $653.60 million during the quarter, compared to the consensus estimate of $647.36 million. During the same period in the previous year, the firm earned ($8.04) earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Pinnacle Entertainment will post $0.79 EPS for the current fiscal year.

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In other Pinnacle Entertainment news, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the purchase, the chairman now directly owns 828,562 shares of the company’s stock, valued at $15,618,393.70. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Neil E. Walkoff sold 60,000 shares of the business’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 value of $1,148,400.00. Following the completion of the transaction, 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. 8.33% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PNK. JPMorgan Chase & Co. boosted its stake in shares of Pinnacle Entertainment by 469.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock worth $29,308,000 after buying an additional 1,222,680 shares during the last quarter. 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 valued at $32,272,000 after purchasing an additional 941,450 shares during the last quarter. 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 valued at $20,378,000 after purchasing an additional 796,800 shares during the last quarter. 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 valued at $23,065,000 after purchasing an additional 509,133 shares during the last quarter. Finally, Sound Point Capital Management LP purchased a new position in Pinnacle Entertainment in the first quarter valued at approximately $9,172,000. Hedge funds and other institutional investors own 89.59% 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.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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