Pinnacle Entertainment, Inc. (NASDAQ:PNK) had its price objective lifted by Barclays PLC from $25.00 to $31.00 in a report published on Wednesday morning. Barclays PLC currently has an overweight rating on the stock.
PNK has been the subject of a number of other research reports. Deutsche Bank AG lifted their price objective on Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a hold rating in a research report on Wednesday. Zacks Investment Research cut Pinnacle Entertainment from a buy rating to a hold rating in a research report on Thursday, July 13th. Telsey Advisory Group lifted their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an outperform rating in a research report on Thursday, October 12th. Bank of America Corporation lifted their price objective on Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday. Finally, BidaskClub cut Pinnacle Entertainment from a hold rating to a sell rating in a research report on Thursday, August 24th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pinnacle Entertainment has an average rating of Buy and a consensus target price of $27.57.
Shares of Pinnacle Entertainment (NASDAQ PNK) traded up $0.27 during mid-day trading on Wednesday, hitting $27.20. The stock had a trading volume of 405,000 shares, compared to its average volume of 569,622. Pinnacle Entertainment has a twelve month low of $13.15 and a twelve month high of $27.37. The stock has a market capitalization of $1,562.72, a PE ratio of 35.79, a P/E/G ratio of 1.51 and a beta of 1.38. The company has a current ratio of 0.48, a quick ratio of 0.76 and a debt-to-equity ratio of -11.49.
Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The business had revenue of $647.40 million during the quarter, compared to analysts’ expectations of $652.13 million. During the same quarter last year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts forecast that Pinnacle Entertainment will post 0.81 EPS for the current year.
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In other Pinnacle Entertainment news, Director Jaynie M. Studenmund sold 20,000 shares of Pinnacle Entertainment stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $19.89, for a total value of $397,800.00. Following the completion of the sale, the director now owns 78,230 shares in the company, valued at approximately $1,555,994.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $18.85 per share, with a total value of $407,160.00. Following the acquisition, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The disclosure for this purchase can be found here. Company insiders own 8.33% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Pinnacle Entertainment by 469.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock valued at $29,308,000 after buying an additional 1,222,680 shares during the period. Chicago Equity Partners LLC grew its holdings in Pinnacle Entertainment by 216.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 193,050 shares of the company’s stock valued at $3,815,000 after buying an additional 132,115 shares during the period. Renaissance Technologies LLC grew its holdings in Pinnacle Entertainment by 339.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock valued at $20,378,000 after buying an additional 796,800 shares during the period. Sound Point Capital Management LP grew its holdings in Pinnacle Entertainment by 35.8% in the 2nd quarter. Sound Point Capital Management LP now owns 638,102 shares of the company’s stock valued at $12,609,000 after buying an additional 168,203 shares during the period. Finally, Piedmont Investment Advisors LLC grew its holdings in Pinnacle Entertainment by 43.7% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 38,842 shares of the company’s stock valued at $768,000 after buying an additional 11,816 shares during the period. Institutional investors own 88.91% 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.
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