Gabelli Funds LLC grew its position in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 384,294 shares of the company’s stock after buying an additional 53,094 shares during the quarter. Gabelli Funds LLC owned 0.65% of Pinnacle Entertainment worth $12,947,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Guggenheim Capital LLC raised its holdings in shares of Pinnacle Entertainment by 445.1% in the 1st quarter. Guggenheim Capital LLC now owns 37,104 shares of the company’s stock worth $1,117,000 after purchasing an additional 30,297 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Pinnacle Entertainment by 20.3% in the 1st quarter. Allianz Asset Management GmbH now owns 24,370 shares of the company’s stock worth $735,000 after purchasing an additional 4,120 shares during the period. Sphinx Trading LP bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter worth approximately $540,000. Acadian Asset Management LLC raised its holdings in shares of Pinnacle Entertainment by 49.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,194,428 shares of the company’s stock worth $40,287,000 after purchasing an additional 396,264 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of Pinnacle Entertainment by 383.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 42,648 shares of the company’s stock worth $1,439,000 after purchasing an additional 33,819 shares during the period. 87.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on PNK. BidaskClub cut shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $35.00 price objective on shares of Pinnacle Entertainment in a research note on Thursday, August 16th. ValuEngine lowered shares of Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research upgraded shares of Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 18th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.00.
Pinnacle Entertainment stock opened at $32.55 on Friday. Pinnacle Entertainment Inc has a 1-year low of $24.01 and a 1-year high of $35.18.
Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $647.60 million for the quarter, compared to analyst estimates of $649.20 million. During the same period last year, the company earned ($0.15) EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year.
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Pinnacle Entertainment Profile
Pinnacle Entertainment, Inc owns, develops, and operates casinos and related hospitality and entertainment facilities in the United States. It operates through Midwest, South, and West segments. As of February 28, 2018, the company owned and operated 16 gaming entertainment businesses located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, and Pennsylvania.
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