Pinnacle Entertainment, Inc. (PNK) Stake Lessened by Argent Capital Management LLC
Argent Capital Management LLC decreased its holdings in Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 40.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 100,825 shares of the company’s stock after selling 68,200 shares during the period. Argent Capital Management LLC owned approximately 0.18% of Pinnacle Entertainment worth $1,992,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Pinnacle Entertainment in the 2nd quarter valued at $121,000. Oppenheimer Asset Management Inc. bought a new position in shares of Pinnacle Entertainment in the 1st quarter valued at $140,000. Pacad Investment Ltd. increased its stake in shares of Pinnacle Entertainment by 212.3% in the 2nd quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after purchasing an additional 6,580 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Pinnacle Entertainment in the 1st quarter valued at $220,000. Finally, Jane Street Group LLC bought a new position in shares of Pinnacle Entertainment in the 1st quarter valued at $264,000. Institutional investors own 89.59% of the company’s stock.
In other news, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $18.85 per share, for a total transaction of $407,160.00. Following the completion of the acquisition, the chairman now owns 828,562 shares in the company, valued at approximately $15,618,393.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil E. Walkoff sold 60,000 shares of the 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 sale, the executive vice president now owns 282,076 shares of the company’s stock, valued at $5,398,934.64. The disclosure for this sale can be found here. 8.33% of the stock is currently owned by company insiders.
Shares of Pinnacle Entertainment, Inc. (PNK) traded down 2.17% during trading on Monday, hitting $23.92. The stock had a trading volume of 125,147 shares. The company has a market cap of $1.38 billion, a PE ratio of 84.82 and a beta of 1.30. Pinnacle Entertainment, Inc. has a 1-year low of $11.36 and a 1-year high of $24.94. The firm’s 50 day moving average is $20.83 and its 200 day moving average is $20.83.
Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $653.60 million for the quarter, compared to the consensus estimate of $647.36 million. During the same period last year, the business posted ($8.04) earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that Pinnacle Entertainment, Inc. will post $0.79 EPS for the current fiscal year.
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Several equities 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 note on Saturday, August 12th. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Pinnacle Entertainment currently has an average rating of “Hold” and a consensus target price of $21.60.
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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