Pinnacle Entertainment, Inc. (PNK) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) from a hold rating to a buy rating in a research note published on Saturday.

A number of other equities research analysts have also recently weighed in on PNK. Zacks Investment Research cut Pinnacle Entertainment from a buy rating to a hold rating in a research note on Thursday, July 13th. Stifel Nicolaus restated a hold rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $21.60.

Shares of Pinnacle Entertainment (PNK) opened at 23.91 on Friday. The stock has a 50 day moving average of $21.11 and a 200 day moving average of $21.11. Pinnacle Entertainment has a 52 week low of $11.36 and a 52 week high of $24.94. The firm has a market cap of $1.38 billion, a P/E ratio of 84.79 and a beta of 1.30.

Pinnacle Entertainment (NASDAQ:PNK) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The business had revenue of $653.60 million during the quarter, compared to the consensus estimate of $647.36 million. During the same quarter last year, the company posted ($8.04) EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Equities analysts forecast that Pinnacle Entertainment will post $0.79 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Pinnacle Entertainment, Inc. (PNK) Upgraded to Buy at BidaskClub” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/pinnacle-entertainment-inc-pnk-upgraded-to-buy-at-bidaskclub.html.

In other Pinnacle Entertainment news, EVP Neil E. Walkoff sold 60,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $19.14, for a total transaction of $1,148,400.00. Following the transaction, the executive vice president now owns 282,076 shares in the company, valued at approximately $5,398,934.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the stock in a transaction on Thursday, September 14th. The shares were purchased at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the transaction, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The disclosure for this purchase can be found here. 8.33% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of PNK. JPMorgan Chase & Co. increased its position in Pinnacle Entertainment by 469.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock worth $29,308,000 after buying an additional 1,222,680 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Pinnacle Entertainment by 339.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock worth $20,378,000 after purchasing an additional 796,800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pinnacle Entertainment by 77.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,335 shares of the company’s stock worth $23,065,000 after purchasing an additional 509,133 shares in the last quarter. Sound Point Capital Management LP acquired a new stake in shares of Pinnacle Entertainment during the 1st quarter worth $9,172,000. Finally, Numeric Investors LLC acquired a new stake in shares of Pinnacle Entertainment during the 2nd quarter worth $6,661,000. Hedge funds and other institutional investors own 89.59% of the company’s stock.

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 segment

A number of other equities research analysts have also recently weighed in on PNK. Zacks Investment Research cut Pinnacle Entertainment from a buy rating to a hold rating in a research note on Thursday, July 13th. Stifel Nicolaus restated a hold rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $21.60.

Shares of Pinnacle Entertainment (PNK) opened at 23.91 on Friday. The stock has a 50 day moving average of $21.11 and a 200 day moving average of $21.11. Pinnacle Entertainment has a 52 week low of $11.36 and a 52 week high of $24.94. The firm has a market cap of $1.38 billion, a P/E ratio of 84.79 and a beta of 1.30.

Pinnacle Entertainment (NASDAQ:PNK) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The business had revenue of $653.60 million during the quarter, compared to the consensus estimate of $647.36 million. During the same quarter last year, the company posted ($8.04) EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Equities analysts forecast that Pinnacle Entertainment will post $0.79 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Pinnacle Entertainment, Inc. (PNK) Upgraded to Buy at BidaskClub” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/pinnacle-entertainment-inc-pnk-upgraded-to-buy-at-bidaskclub.html.

In other Pinnacle Entertainment news, EVP Neil E. Walkoff sold 60,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $19.14, for a total transaction of $1,148,400.00. Following the transaction, the executive vice president now owns 282,076 shares in the company, valued at approximately $5,398,934.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the stock in a transaction on Thursday, September 14th. The shares were purchased at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the transaction, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The disclosure for this purchase can be found here. 8.33% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of PNK. JPMorgan Chase & Co. increased its position in Pinnacle Entertainment by 469.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock worth $29,308,000 after buying an additional 1,222,680 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Pinnacle Entertainment by 339.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock worth $20,378,000 after purchasing an additional 796,800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pinnacle Entertainment by 77.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,335 shares of the company’s stock worth $23,065,000 after purchasing an additional 509,133 shares in the last quarter. Sound Point Capital Management LP acquired a new stake in shares of Pinnacle Entertainment during the 1st quarter worth $9,172,000. Finally, Numeric Investors LLC acquired a new stake in shares of Pinnacle Entertainment during the 2nd quarter worth $6,661,000. Hedge funds and other institutional investors own 89.59% of the company’s stock.

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.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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