PEAK6 Investments L.P. grew its stake in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 97.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 310,391 shares of the company’s stock after acquiring an additional 153,162 shares during the quarter. PEAK6 Investments L.P. owned about 0.48% of Pinnacle Entertainment worth $10,159,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Pinnacle Entertainment in the third quarter valued at approximately $150,000. Dynamic Technology Lab Private Ltd purchased a new stake in Pinnacle Entertainment in the 3rd quarter worth approximately $202,000. Koch Industries Inc. purchased a new stake in Pinnacle Entertainment in the 4th quarter worth approximately $213,000. Guggenheim Capital LLC purchased a new stake in Pinnacle Entertainment in the 4th quarter worth approximately $222,000. Finally, Amalgamated Bank purchased a new stake in Pinnacle Entertainment in the 4th quarter worth approximately $234,000. Hedge funds and other institutional investors own 86.12% of the company’s stock.
Several equities research analysts have commented on the company. ValuEngine upgraded Pinnacle Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. SunTrust Banks restated an “average” rating and issued a $35.00 price objective on shares of Pinnacle Entertainment in a research report on Monday, February 5th. Finally, Citigroup downgraded Pinnacle Entertainment to a “hold” rating in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.14.
Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The firm had revenue of $620.83 million during the quarter, compared to the consensus estimate of $635.70 million. Pinnacle Entertainment had a negative return on equity of 18.61% and a net margin of 2.46%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. analysts predict that Pinnacle Entertainment Inc will post 1.26 earnings per share for the current fiscal year.
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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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