Short Interest in Pinnacle Entertainment Inc (PNK) Decreases By 51.7%

Pinnacle Entertainment Inc (NASDAQ:PNK) saw a large drop in short interest in December. As of December 29th, there was short interest totalling 1,669,026 shares, a drop of 51.7% from the December 15th total of 3,456,820 shares. Based on an average trading volume of 1,712,903 shares, the days-to-cover ratio is currently 1.0 days. Approximately 2.7% of the company’s stock are short sold.

Several brokerages have recently weighed in on PNK. BidaskClub cut shares of Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Macquarie cut shares of Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 19th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Pinnacle Entertainment in a research note on Tuesday, December 19th. Citigroup cut shares of Pinnacle Entertainment to a “hold” rating in a research note on Tuesday, December 19th. Finally, ValuEngine cut shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Pinnacle Entertainment has an average rating of “Hold” and an average price target of $27.57.

Pinnacle Entertainment (NASDAQ PNK) opened at $32.84 on Friday. Pinnacle Entertainment has a 52 week low of $13.61 and a 52 week high of $33.59. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of -11.36. The firm has a market cap of $2,135.94, a price-to-earnings ratio of 65.68 and a beta of 1.45.

Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The business had revenue of $647.40 million during the quarter, compared to analysts’ expectations of $652.13 million. During the same period last year, the business earned ($0.01) earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. research analysts anticipate that Pinnacle Entertainment will post 0.81 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in shares of Pinnacle Entertainment by 21.7% in the third quarter. Public Employees Retirement System of Ohio now owns 122,708 shares of the company’s stock valued at $2,615,000 after buying an additional 21,903 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Pinnacle Entertainment by 60.5% in the third quarter. GSA Capital Partners LLP now owns 129,464 shares of the company’s stock valued at $2,759,000 after buying an additional 48,797 shares in the last quarter. Argent Capital Management LLC grew its stake in shares of Pinnacle Entertainment by 58.0% in the third quarter. Argent Capital Management LLC now owns 159,300 shares of the company’s stock valued at $3,395,000 after buying an additional 58,475 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Pinnacle Entertainment by 32.5% in the third quarter. California Public Employees Retirement System now owns 240,036 shares of the company’s stock valued at $5,115,000 after buying an additional 58,880 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Pinnacle Entertainment by 5.6% in the third quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock valued at $110,897,000 after buying an additional 275,100 shares in the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Short Interest in Pinnacle Entertainment Inc (PNK) Decreases By 51.7%” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/01/14/short-interest-in-pinnacle-entertainment-inc-pnk-decreases-by-51-7.html.

About Pinnacle Entertainment

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply