USA Financial Portformulas Corp acquired a new stake in shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 24,918 shares of the company’s stock, valued at approximately $492,000.

Several other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in Pinnacle Entertainment by 0.6% during the 2nd quarter. Sterling Capital Management LLC now owns 52,670 shares of the company’s stock worth $1,041,000 after acquiring an additional 289 shares during the last quarter. Prudential Financial Inc. grew its position in Pinnacle Entertainment by 0.8% during the 2nd quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock worth $788,000 after acquiring an additional 330 shares during the last quarter. SG Americas Securities LLC grew its position in Pinnacle Entertainment by 10.4% during the 1st quarter. SG Americas Securities LLC now owns 14,145 shares of the company’s stock worth $276,000 after acquiring an additional 1,338 shares during the last quarter. Voya Investment Management LLC grew its position in Pinnacle Entertainment by 7.5% during the 2nd quarter. Voya Investment Management LLC now owns 28,303 shares of the company’s stock worth $559,000 after acquiring an additional 1,974 shares during the last quarter. Finally, Nationwide Fund Advisors grew its position in Pinnacle Entertainment by 5.3% during the 2nd quarter. Nationwide Fund Advisors now owns 48,356 shares of the company’s stock worth $956,000 after acquiring an additional 2,428 shares during the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.

In other Pinnacle Entertainment news, EVP Neil E. Walkoff sold 60,000 shares of the stock in a transaction on 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 approximately $5,398,934.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were bought at an average cost of $18.85 per share, for a total transaction of $407,160.00. Following the transaction, the chairman now directly owns 828,562 shares in the company, valued at approximately $15,618,393.70. The disclosure for this purchase can be found here. 8.33% of the stock is owned by corporate insiders.

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Pinnacle Entertainment, Inc. (PNK) traded down 0.28% on Thursday, hitting $24.89. The stock had a trading volume of 50,804 shares. The stock’s 50-day moving average is $21.83 and its 200 day moving average is $21.83. Pinnacle Entertainment, Inc. has a 1-year low of $11.36 and a 1-year high of $25.12. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 88.26 and a beta of 1.30.

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 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 during the quarter, compared to the consensus estimate of $647.36 million. During the same period last year, the company earned ($8.04) EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that Pinnacle Entertainment, Inc. will post $0.75 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on PNK shares. Zacks Investment Research lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 price objective on shares of Pinnacle Entertainment in a research report on Friday, August 11th. Finally, Telsey Advisory Group lifted their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $21.80.

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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