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.
COPYRIGHT VIOLATION NOTICE: “Pinnacle Entertainment, Inc. (PNK) Rating Increased to Hold at BidaskClub” was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.chaffeybreeze.com/2017/09/20/pinnacle-entertainment-inc-pnk-rating-increased-to-hold-at-bidaskclub.html.
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.
Receive News & Ratings for Pinnacle Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Entertainment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.