Mint Tower Capital Management B.V. Invests $302,000 in Pinnacle Entertainment (PNK) Stock

Mint Tower Capital Management B.V. bought a new position in shares of Pinnacle Entertainment (NASDAQ:PNK) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,000 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors have also recently added to or reduced their stakes in PNK. Hennessy Advisors Inc. bought a new position in shares of Pinnacle Entertainment during the 4th quarter worth about $37,008,000. Deutsche Bank AG increased its holdings in shares of Pinnacle Entertainment by 544.1% during the 4th quarter. Deutsche Bank AG now owns 1,212,922 shares of the company’s stock worth $39,696,000 after purchasing an additional 1,024,609 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of Pinnacle Entertainment by 1,326.1% during the 1st quarter. State of Wisconsin Investment Board now owns 698,804 shares of the company’s stock worth $21,069,000 after purchasing an additional 649,804 shares during the period. SG Americas Securities LLC bought a new position in shares of Pinnacle Entertainment during the 1st quarter worth about $14,674,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Pinnacle Entertainment during the 4th quarter worth about $14,947,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

PNK has been the topic of several research reports. BidaskClub upgraded shares of Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a report on Friday. SunTrust Banks restated an “average” rating and set a $35.00 price objective on shares of Pinnacle Entertainment in a report on Monday, February 5th. ValuEngine upgraded shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.14.

Pinnacle Entertainment opened at $34.35 on Friday, according to MarketBeat.com. The stock has a market capitalization of $1.96 billion, a P/E ratio of 31.04 and a beta of 1.40. Pinnacle Entertainment has a twelve month low of $33.82 and a twelve month high of $33.99. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of -12.88.

Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Wednesday, May 9th. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $628.40 million for the quarter, compared to analysts’ expectations of $638.64 million. Pinnacle Entertainment had a net margin of 2.66% and a negative return on equity of 20.78%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. research analysts anticipate that Pinnacle Entertainment will post 1.23 earnings per share for the current fiscal year.

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.

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

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