Karp Capital Management Corp acquired a new position in shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) during the first quarter, according to its most recent filing with the SEC. The fund acquired 11,283 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Pinnacle Entertainment during the fourth quarter worth approximately $17,389,000. State Street Corp increased its position in shares of Pinnacle Entertainment by 3.4% in the fourth quarter. State Street Corp now owns 1,068,102 shares of the company’s stock worth $15,488,000 after buying an additional 34,806 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Pinnacle Entertainment by 3,315.8% in the first quarter. Acadian Asset Management LLC now owns 682,745 shares of the company’s stock worth $13,328,000 after buying an additional 662,757 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 buying an additional 121,806 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Pinnacle Entertainment during the fourth quarter worth approximately $8,232,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) traded up 1.30% during mid-day trading on Friday, hitting $19.47. 433,603 shares of the stock were exchanged. The firm has a 50-day moving average price of $19.73 and a 200 day moving average price of $18.74. Pinnacle Entertainment, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The company’s market capitalization is $1.12 billion.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Wednesday, May 10th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.16 by $0.12. The company had revenue of $640 million during the quarter, compared to analyst estimates of $639.86 million. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. On average, equities research analysts expect that Pinnacle Entertainment, Inc. will post $0.97 earnings per share for the current year.

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A number of research firms have issued reports on PNK. Deutsche Bank AG lifted their target price on shares of Pinnacle Entertainment from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 28th. BidaskClub cut shares of Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Telsey Advisory Group lifted their target price on shares of Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Zacks Investment Research upgraded shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, May 16th. Finally, ValuEngine upgraded shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Pinnacle Entertainment has a consensus rating of “Hold” and a consensus target price of $20.29.

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.

Institutional Ownership by Quarter for Pinnacle Entertainment (NASDAQ:PNK)

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