BlackRock Inc. lifted its position in Pinnacle Entertainment Inc (NASDAQ:PNK) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,603,853 shares of the company’s stock after purchasing an additional 19,500 shares during the quarter. BlackRock Inc. owned about 5.56% of Pinnacle Entertainment worth $117,953,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Pinnacle Entertainment in the third quarter worth $150,000. Dynamic Technology Lab Private Ltd purchased a new position in Pinnacle Entertainment in the third quarter worth $202,000. Connable Office Inc. purchased a new position in Pinnacle Entertainment in the fourth quarter worth $242,000. Macquarie Group Ltd. purchased a new position in Pinnacle Entertainment in the third quarter worth $271,000. Finally, Trexquant Investment LP purchased a new position in Pinnacle Entertainment in the third quarter worth $353,000. 85.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pinnacle Entertainment Inc (NASDAQ PNK) opened at $29.98 on Monday. The company has a debt-to-equity ratio of -12.15, a quick ratio of 0.79 and a current ratio of 0.82. Pinnacle Entertainment Inc has a 1 year low of $18.30 and a 1 year high of $33.59. The stock has a market cap of $1,742.86, a PE ratio of 29.39 and a beta of 1.46.
PNK has been the subject of several research reports. Susquehanna Bancshares reiterated a “neutral” rating on shares of Pinnacle Entertainment in a research report on Tuesday, December 19th. SunTrust Banks reiterated an “average” rating and issued a $35.00 target price on shares of Pinnacle Entertainment in a research report on Monday, February 5th. BidaskClub lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. ValuEngine upgraded shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Macquarie lowered shares of Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 19th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Pinnacle Entertainment has a consensus rating of “Hold” and an average price target of $30.14.
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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