Engineers Gate Manager LP boosted its holdings in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 64.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,841 shares of the company’s stock after buying an additional 30,466 shares during the period. Engineers Gate Manager LP owned approximately 0.14% of Pinnacle Entertainment worth $1,659,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of PNK. SG Americas Securities LLC bought a new stake in Pinnacle Entertainment during the third quarter valued at $150,000. Meeder Asset Management Inc. boosted its stake in Pinnacle Entertainment by 35.5% during the third quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock valued at $176,000 after buying an additional 2,166 shares during the period. Pacad Investment Ltd. boosted its stake in Pinnacle Entertainment by 212.3% during the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after buying an additional 6,580 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Pinnacle Entertainment during the third quarter valued at about $202,000. Finally, Macquarie Group Ltd. purchased a new stake in Pinnacle Entertainment during the third quarter valued at about $271,000. 92.73% of the stock is owned by institutional investors.
A number of research firms have weighed in on PNK. BidaskClub downgraded Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. ValuEngine downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Deutsche Bank raised their price target on Pinnacle Entertainment from $20.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Telsey Advisory Group raised their price target on Pinnacle Entertainment from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Finally, Bank of America raised their price target on Pinnacle Entertainment from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.57.
Shares of Pinnacle Entertainment Inc (PNK) opened at $30.87 on Monday. Pinnacle Entertainment Inc has a 12-month low of $13.61 and a 12-month high of $33.59. The company has a debt-to-equity ratio of -11.36, a quick ratio of 0.68 and a current ratio of 0.71. The firm has a market capitalization of $1,773.57, a PE ratio of 40.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44.
Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $647.40 million for the quarter, compared to the consensus estimate of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. equities research analysts forecast that Pinnacle Entertainment Inc will post 0.81 EPS for the current fiscal year.
In related news, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the chairman now owns 828,562 shares in the company, valued at $15,618,393.70. The purchase was disclosed in a filing with the SEC, which is available at this link. 8.33% of the stock is currently owned by insiders.
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Pinnacle Entertainment 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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