Pinnacle Entertainment Inc. (PNK) Downgraded to “Hold” at TheStreet
Pinnacle Entertainment Inc. (NASDAQ:PNK) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued on Monday.
Several other equities research analysts have also recently commented on the stock. Bank of America Corp. assumed coverage on shares of Pinnacle Entertainment in a research report on Monday, August 22nd. They set a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research upgraded shares of Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Deutsche Bank AG restated a “hold” rating and set a $12.00 price objective on shares of Pinnacle Entertainment in a research note on Monday, June 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $24.14.
Shares of Pinnacle Entertainment (NASDAQ:PNK) traded down 0.94% on Monday, reaching $12.66. 270,807 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $12.07 and its 200 day moving average price is $11.31. The company’s market cap is $723.27 million. Pinnacle Entertainment has a 12 month low of $9.72 and a 12 month high of $12.86.
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Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($8.04) EPS for the quarter, missing the consensus estimate of $0.13 by $8.17. Pinnacle Entertainment had a negative return on equity of 30.68% and a negative net margin of 19.62%. The business had revenue of $566.20 million for the quarter, compared to the consensus estimate of $573 million. Pinnacle Entertainment’s revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that Pinnacle Entertainment will post ($1.86) EPS for the current fiscal year.
In related news, CEO Anthony Michael Sanfilippo purchased 20,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were acquired at an average price of $11.20 per share, for a total transaction of $232,400.00. Following the purchase, the chief executive officer now owns 723,543 shares in the company, valued at $8,103,681.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.65% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Aperio Group LLC increased its stake in Pinnacle Entertainment by 21.9% in the first quarter. Aperio Group LLC now owns 15,091 shares of the company’s stock worth $530,000 after buying an additional 2,707 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Pinnacle Entertainment by 4.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,700 shares of the company’s stock worth $1,113,000 after buying an additional 1,300 shares in the last quarter. Teachers Advisors Inc. increased its stake in Pinnacle Entertainment by 0.8% in the first quarter. Teachers Advisors Inc. now owns 91,806 shares of the company’s stock worth $3,222,000 after buying an additional 726 shares in the last quarter. Franklin Resources Inc. increased its stake in Pinnacle Entertainment by 9.7% in the first quarter. Franklin Resources Inc. now owns 1,745,344 shares of the company’s stock worth $61,262,000 after buying an additional 153,789 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new stake in Pinnacle Entertainment during the first quarter worth about $116,000. 95.17% of the stock is owned by hedge funds and other institutional investors.
About Pinnacle Entertainment
Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment facilities. The Company operates through three segments: Midwest, South and West. The properties in the Company’s Midwest segment include Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.
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