Menta Capital LLC boosted its stake in Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 27.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,489 shares of the company’s stock after purchasing an additional 23,500 shares during the quarter. Menta Capital LLC owned about 0.19% of Pinnacle Entertainment worth $2,183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. bought a new stake in shares of Pinnacle Entertainment in the fourth quarter worth about $275,000. Teachers Advisors LLC bought a new stake in shares of Pinnacle Entertainment in the fourth quarter worth about $1,363,000. Russell Investments Group Ltd. increased its holdings in shares of Pinnacle Entertainment by 71.9% in the first quarter. Russell Investments Group Ltd. now owns 159,537 shares of the company’s stock worth $3,114,000 after acquiring an additional 66,714 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pinnacle Entertainment by 22.7% in the first quarter. Bank of New York Mellon Corp now owns 658,202 shares of the company’s stock worth $12,849,000 after acquiring an additional 121,806 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Pinnacle Entertainment in the first quarter worth about $220,000. Institutional investors and hedge funds own 89.59% of the company’s stock.
Several brokerages have issued reports on PNK. BidaskClub downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Zacks Investment Research downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Barclays PLC increased their price target on Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, May 30th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a report on Friday, August 11th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Pinnacle Entertainment has an average rating of “Hold” and a consensus price target of $21.83.
Shares of Pinnacle Entertainment, Inc. (NASDAQ PNK) opened at 20.30 on Thursday. The firm has a 50 day moving average price of $19.42 and a 200 day moving average price of $19.42. Pinnacle Entertainment, Inc. has a one year low of $11.36 and a one year high of $20.46. The company has a market capitalization of $1.17 billion, a P/E ratio of 71.99 and a beta of 1.31.
Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). The business had revenue of $653.60 million during the quarter, compared to analyst estimates of $647.36 million. Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($8.04) earnings per share. On average, equities research analysts predict that Pinnacle Entertainment, Inc. will post $0.79 EPS for the current fiscal year.
In other Pinnacle Entertainment news, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $18.85 per share, with a total value of $407,160.00. Following the purchase, the chairman now directly owns 828,562 shares of the company’s stock, valued at $15,618,393.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil E. Walkoff sold 60,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $19.14, for a total value of $1,148,400.00. Following the completion of the transaction, the executive vice president now directly owns 282,076 shares in the company, valued at $5,398,934.64. The disclosure for this sale can be found here. 8.33% of the stock is owned by insiders.
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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