Pinnacle Entertainment Inc. (NASDAQ:PNK) has received a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $23.83.
Several equities research analysts have recently weighed in on PNK shares. Deutsche Bank AG reissued a “hold” rating and issued a $12.00 target price on shares of Pinnacle Entertainment in a research note on Monday, June 27th. Zacks Investment Research raised shares of Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Bank of America Corp. started coverage on shares of Pinnacle Entertainment in a research note on Monday, August 22nd. They issued a “buy” rating and a $15.00 target price on the stock.
In other Pinnacle Entertainment news, CEO Anthony Michael Sanfilippo bought 20,750 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were bought at an average cost of $11.20 per share, for a total transaction of $232,400.00. Following the acquisition, the chief executive officer now directly owns 723,543 shares in the company, valued at $8,103,681.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.65% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its position in shares of Pinnacle Entertainment by 0.8% in the first quarter. Teachers Advisors Inc. now owns 91,806 shares of the company’s stock valued at $3,222,000 after buying an additional 726 shares during the last quarter. Nisa Investment Advisors L.L.C. boosted its stake in Pinnacle Entertainment by 4.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,700 shares of the company’s stock worth $1,113,000 after buying an additional 1,300 shares in the last quarter. Aperio Group LLC boosted its stake in Pinnacle Entertainment by 21.9% in the first quarter. Aperio Group LLC now owns 15,091 shares of the company’s stock worth $530,000 after buying an additional 2,707 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Pinnacle Entertainment during the first quarter worth $116,000. Finally, Huntington Asset Advisors Inc. purchased a new stake in Pinnacle Entertainment during the first quarter worth $369,000. Institutional investors own 95.17% of the company’s stock.
Shares of Pinnacle Entertainment (NASDAQ:PNK) opened at 12.34 on Tuesday. The company’s market cap is $704.98 million. Pinnacle Entertainment has a 1-year low of $9.72 and a 1-year high of $12.70. The company’s 50-day moving average is $11.89 and its 200 day moving average is $11.25.
Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Tuesday, August 9th. The company reported ($8.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $8.17. Pinnacle Entertainment had a negative net margin of 19.62% and a negative return on equity of 30.68%. The firm earned $566.20 million during the quarter, compared to analysts’ expectations of $573 million. Pinnacle Entertainment’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Pinnacle Entertainment will post ($1.83) EPS for the current year.
About Pinnacle Entertainment
Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment facilities. The Company operates through three segments: Midwest, South and West. The properties in the Company’s Midwest segment include Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.
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