According to Zacks, “Pinnacle Entertainment is a diversified gaming company that owns and operates casinos in Indiana, Louisiana, Mississippi, Nevada and Argentina and is pursuing the development of a hotel and casino resort in Lake Charles, Louisiana. The Company also receives lease income from two card club casinos, both in the Los Angeles metropolitan area. “
A number of other equities research analysts also recently commented on PNK. Deutsche Bank AG reaffirmed a hold rating and issued a $12.00 target price on shares of Pinnacle Entertainment in a research report on Monday, June 27th. TheStreet downgraded shares of Pinnacle Entertainment from a buy rating to a hold rating in a research report on Monday, October 10th. Finally, 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 objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Pinnacle Entertainment presently has a consensus rating of Buy and an average target price of $24.14.
Pinnacle Entertainment (NASDAQ:PNK) opened at 12.66 on Wednesday. Pinnacle Entertainment has a 1-year low of $9.72 and a 1-year high of $12.93. The company’s market cap is $723.27 million. The company has a 50-day moving average price of $12.16 and a 200-day moving average price of $11.36.
Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Tuesday, August 9th. The company reported ($8.04) EPS for the quarter, missing analysts’ consensus estimates 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 company earned $566.20 million during the quarter, compared to the consensus estimate of $573 million. The firm’s revenue was down 2.7% on a year-over-year basis. On average, analysts expect that Pinnacle Entertainment will post ($1.86) EPS for the current fiscal year.
In other news, CEO Anthony Michael Sanfilippo bought 20,750 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were bought 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.65% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNK. Acrospire Investment Management LLC purchased a new position in Pinnacle Entertainment during the first quarter worth $116,000. Huntington Asset Advisors Inc. purchased a new position in Pinnacle Entertainment during the first quarter worth $369,000. Aperio Group LLC boosted its position 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 during the period. Springbok Capital Management LLC purchased a new position in Pinnacle Entertainment during the first quarter worth $585,000. Finally, Anandar Capital Management LP purchased a new position in Pinnacle Entertainment during the first quarter worth $1,053,000. Institutional investors own 95.09% of the company’s stock.
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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