Pinnacle Entertainment, Inc. (PNK) Raised to “Hold” at BidaskClub
Pinnacle Entertainment, Inc. (NASDAQ:PNK) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a report on Friday, August 11th. Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday. Barclays PLC upped their target price on Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, May 30th. ValuEngine raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. Finally, Telsey Advisory Group upped their target price on Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $20.86.
Pinnacle Entertainment (NASDAQ PNK) traded down 1.32% during trading on Wednesday, hitting $20.14. The stock had a trading volume of 505,734 shares. The firm has a market cap of $1.14 billion, a P/E ratio of 71.42 and a beta of 1.31. The stock’s 50 day moving average price is $19.52 and its 200 day moving average price is $19.07. Pinnacle Entertainment has a 12-month low of $11.10 and a 12-month high of $22.10.
Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $653.60 million during the quarter, compared to analyst estimates of $647.36 million. Pinnacle Entertainment had a negative return on equity of 8.88% and a net margin of 0.68%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($8.04) EPS. On average, analysts anticipate that Pinnacle Entertainment will post $0.83 EPS for the current fiscal year.
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In related news, EVP Neil E. Walkoff sold 60,000 shares of the company’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 sale, the executive vice president now owns 282,076 shares of the company’s stock, valued at approximately $5,398,934.64. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.33% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of PNK. Meeder Asset Management Inc. bought a new stake in Pinnacle Entertainment during the second quarter worth about $121,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Pinnacle Entertainment during the first quarter worth $140,000. Pacad Investment Ltd. raised its position in shares of Pinnacle Entertainment by 212.3% in the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after buying an additional 6,580 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Pinnacle Entertainment during the first quarter worth $220,000. Finally, AQR Capital Management LLC acquired a new position in shares of Pinnacle Entertainment during the fourth quarter worth $170,000. 90.76% of the stock is currently owned by hedge funds and other institutional investors.
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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