Shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) have been given an average recommendation of “Hold” by the nine brokerages that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.60.

Several research analysts have issued reports on PNK shares. Zacks Investment Research raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub downgraded Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a research note on Friday, August 11th.

In related news, EVP Neil E. Walkoff sold 60,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 282,076 shares in the company, valued at approximately $5,398,934.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $18.85 per share, with a total value of $407,160.00. Following the transaction, the chairman now owns 828,562 shares in the company, valued at $15,618,393.70. The disclosure for this purchase can be found here. Corporate insiders own 8.33% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter valued at $492,000. Piedmont Investment Advisors LLC increased its position in shares of Pinnacle Entertainment by 43.7% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 38,842 shares of the company’s stock valued at $768,000 after buying an additional 11,816 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Pinnacle Entertainment by 0.6% in the 2nd quarter. Sterling Capital Management LLC now owns 52,670 shares of the company’s stock valued at $1,041,000 after buying an additional 289 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter valued at $277,000. Finally, Caxton Associates LP bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter valued at $2,272,000. Institutional investors and hedge funds own 89.59% of the company’s stock.

Shares of Pinnacle Entertainment (NASDAQ PNK) traded up 0.41% during trading on Friday, hitting $21.86. The company had a trading volume of 374,985 shares. Pinnacle Entertainment has a 12-month low of $11.36 and a 12-month high of $22.05. The firm has a 50 day moving average of $20.47 and a 200 day moving average of $20.47. The stock has a market cap of $1.26 billion, a PE ratio of 77.52 and a beta of 1.30.

Pinnacle Entertainment (NASDAQ:PNK) last posted its quarterly earnings data 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 negative return on equity of 8.88% and a net margin of 0.68%. The firm had revenue of $653.60 million for the quarter, compared to analyst estimates of $647.36 million. During the same period in the prior year, the company posted ($8.04) EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Pinnacle Entertainment will post $0.79 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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