Pinnacle Entertainment (PNK) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in Pinnacle Entertainment (NASDAQ:PNK) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,970 shares of the company’s stock after selling 4,569 shares during the period. Raymond James & Associates owned approximately 0.18% of Pinnacle Entertainment worth $3,763,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bamco Inc. NY lifted its stake in shares of Pinnacle Entertainment by 5.6% in the 3rd quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock valued at $110,897,000 after purchasing an additional 275,100 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Pinnacle Entertainment by 0.5% in the 4th quarter. BlackRock Inc. now owns 3,603,853 shares of the company’s stock valued at $117,953,000 after purchasing an additional 19,500 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pinnacle Entertainment by 56.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,326,851 shares of the company’s stock valued at $49,608,000 after purchasing an additional 843,646 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Pinnacle Entertainment by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,434,900 shares of the company’s stock valued at $46,964,000 after purchasing an additional 326,500 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Pinnacle Entertainment by 544.1% in the 4th quarter. Deutsche Bank AG now owns 1,212,922 shares of the company’s stock valued at $39,696,000 after purchasing an additional 1,024,609 shares during the last quarter. 85.93% of the stock is owned by institutional investors and hedge funds.

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Shares of PNK stock opened at $30.45 on Friday. The company has a debt-to-equity ratio of -12.15, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market cap of $1,748.76, a P/E ratio of 29.85 and a beta of 1.45. Pinnacle Entertainment has a 52-week low of $18.30 and a 52-week high of $33.59.

Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Friday, February 23rd. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. The business had revenue of $620.83 million during the quarter, compared to analyst estimates of $635.70 million. Pinnacle Entertainment had a negative return on equity of 18.61% and a net margin of 2.46%. Pinnacle Entertainment’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) EPS. research analysts expect that Pinnacle Entertainment will post 1.26 EPS for the current year.

PNK has been the subject of a number of research analyst reports. SunTrust Banks reissued an “average” rating and set a $35.00 price target on shares of Pinnacle Entertainment in a research note on Monday, February 5th. BidaskClub lowered Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. ValuEngine raised Pinnacle Entertainment from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Citigroup lowered Pinnacle Entertainment to a “hold” rating in a research note on Tuesday, December 19th. Finally, Zacks Investment Research raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.14.

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About Pinnacle Entertainment

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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Institutional Ownership by Quarter for Pinnacle Entertainment (NASDAQ:PNK)

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