Pinnacle Entertainment (PNK) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of Pinnacle Entertainment (NASDAQ:PNK) from a buy rating to a hold rating in a report published on Friday.

PNK has been the topic of a number of other research reports. Zacks Investment Research raised Pinnacle Entertainment from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research note on Saturday, November 11th. BidaskClub raised Pinnacle Entertainment from a sell rating to a hold rating in a research note on Wednesday, August 16th. Stifel Nicolaus boosted their price objective on Pinnacle Entertainment from $23.00 to $30.00 and gave the stock a hold rating in a research note on Wednesday, November 8th. Bank of America boosted their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock a buy rating in a research note on Monday, October 23rd. Finally, Barclays boosted their price objective on Pinnacle Entertainment from $25.00 to $31.00 and gave the stock an overweight rating in a research note on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $27.57.

Shares of Pinnacle Entertainment (NASDAQ:PNK) traded down $0.09 during mid-day trading on Friday, reaching $30.80. The company had a trading volume of 509,300 shares, compared to its average volume of 510,161. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of -11.36. The firm has a market cap of $1,774.71, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. Pinnacle Entertainment has a twelve month low of $13.61 and a twelve month high of $33.59.

Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $647.40 million for the quarter, compared to analyst estimates of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. Pinnacle Entertainment’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. research analysts anticipate that Pinnacle Entertainment will post 0.81 EPS for the current year.

In other news, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average price of $18.85 per share, with a total value of $407,160.00. Following the completion of the purchase, the chairman now directly owns 828,562 shares of the company’s stock, valued at approximately $15,618,393.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Pinnacle Entertainment by 0.6% in the second quarter. Sterling Capital Management LLC now owns 52,670 shares of the company’s stock valued at $1,041,000 after purchasing an additional 289 shares during the last quarter. Prudential Financial Inc. increased its holdings in Pinnacle Entertainment by 0.8% in the second quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock valued at $788,000 after purchasing an additional 330 shares during the last quarter. Voya Investment Management LLC increased its holdings in Pinnacle Entertainment by 7.5% in the second quarter. Voya Investment Management LLC now owns 28,303 shares of the company’s stock valued at $559,000 after purchasing an additional 1,974 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Pinnacle Entertainment by 35.5% in the third quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock valued at $176,000 after purchasing an additional 2,166 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Pinnacle Entertainment by 4.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 53,119 shares of the company’s stock valued at $1,132,000 after purchasing an additional 2,335 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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About Pinnacle Entertainment

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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