Chicago Equity Partners LLC increased its stake in Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 216.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 193,050 shares of the company’s stock after buying an additional 132,115 shares during the quarter. Chicago Equity Partners LLC owned 0.34% of Pinnacle Entertainment worth $3,815,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PNK. Vanguard Group Inc. lifted its holdings in Pinnacle Entertainment by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,297,810 shares of the company’s stock valued at $83,892,000 after purchasing an additional 220,368 shares during the last quarter. Jennison Associates LLC lifted its holdings in Pinnacle Entertainment by 2.1% during the second quarter. Jennison Associates LLC now owns 3,143,973 shares of the company’s stock valued at $62,125,000 after purchasing an additional 65,105 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in Pinnacle Entertainment by 132.3% during the first quarter. Thrivent Financial For Lutherans now owns 1,653,300 shares of the company’s stock valued at $32,272,000 after purchasing an additional 941,450 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pinnacle Entertainment by 77.4% during the second quarter. Bank of New York Mellon Corp now owns 1,167,335 shares of the company’s stock valued at $23,065,000 after purchasing an additional 509,133 shares during the last quarter. Finally, State Street Corp lifted its holdings in Pinnacle Entertainment by 1.6% during the first quarter. State Street Corp now owns 1,085,120 shares of the company’s stock valued at $21,185,000 after purchasing an additional 17,018 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on PNK shares. Telsey Advisory Group upped their price objective on shares of Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. Zacks Investment Research raised shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, May 16th. ValuEngine raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 20th. Barclays PLC upped their price objective on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Pinnacle Entertainment currently has a consensus rating of “Hold” and an average price target of $21.83.

In other news, Director Jaynie M. Studenmund sold 20,000 shares of Pinnacle Entertainment stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $19.89, for a total transaction of $397,800.00. Following the transaction, the director now directly owns 78,230 shares of the company’s stock, valued at approximately $1,555,994.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Neil E. Walkoff sold 60,000 shares of Pinnacle Entertainment 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 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. Company insiders own 8.33% of the company’s stock.

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Shares of Pinnacle Entertainment, Inc. (NASDAQ PNK) opened at 19.36 on Monday. The company has a market capitalization of $1.12 billion, a PE ratio of 68.65 and a beta of 1.31. Pinnacle Entertainment, Inc. has a 12 month low of $11.10 and a 12 month high of $22.10. The stock’s 50 day moving average price is $19.51 and its 200 day moving average price is $19.37.

Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.07. The firm had revenue of $653.60 million during the quarter, compared to analysts’ expectations of $647.36 million. Pinnacle Entertainment had a negative return on equity of 8.88% and a net margin of 0.68%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted ($8.04) earnings per share. On average, analysts forecast that Pinnacle Entertainment, Inc. will post $0.81 EPS for the current year.

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.

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

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