Federated Investors Inc. PA Has $2.67 Million Stake in Pinnacle Entertainment, Inc. (PNK)
Federated Investors Inc. PA lifted its position in shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 13,496.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,150 shares of the company’s stock after purchasing an additional 134,156 shares during the quarter. Federated Investors Inc. PA owned 0.24% of Pinnacle Entertainment worth $2,670,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of PNK. UBS Asset Management Americas Inc. purchased a new position in shares of Pinnacle Entertainment during the 4th quarter valued at approximately $275,000. Teachers Advisors LLC purchased a new position in shares of Pinnacle Entertainment during the 4th quarter valued at approximately $1,363,000. Russell Investments Group Ltd. lifted its position in shares of Pinnacle Entertainment by 71.9% during the 1st quarter. Russell Investments Group Ltd. now owns 159,537 shares of the company’s stock valued at $3,114,000 after buying an additional 66,714 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in shares of Pinnacle Entertainment during the 1st quarter valued at approximately $1,189,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Pinnacle Entertainment by 22.7% during the 1st quarter. Bank of New York Mellon Corp now owns 658,202 shares of the company’s stock valued at $12,849,000 after buying an additional 121,806 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on PNK shares. Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Barclays PLC increased their target price on Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. ValuEngine upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 20th. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Telsey Advisory Group raised their price objective on Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.83.
In related news, EVP Neil E. Walkoff sold 60,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $19.14, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jaynie M. Studenmund sold 20,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $19.89, for a total value of $397,800.00. Following the transaction, the director now owns 78,230 shares in the company, valued at $1,555,994.70. The disclosure for this sale can be found here. Insiders own 8.33% of the company’s stock.
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Pinnacle Entertainment, Inc. (PNK) opened at 19.09 on Thursday. The stock’s 50 day moving average price is $19.51 and its 200 day moving average price is $19.45. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 67.70 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.
Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly 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. Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The firm had revenue of $653.60 million for the quarter, compared to the consensus estimate of $647.36 million. During the same quarter in the prior year, the firm earned ($8.04) earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. Analysts forecast that Pinnacle Entertainment, Inc. will post $0.81 EPS for the current fiscal year.
Pinnacle Entertainment Company 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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