Trexquant Investment LP Buys Shares of 16,558 Pinnacle Entertainment Inc (PNK)
Trexquant Investment LP bought a new stake in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,558 shares of the company’s stock, valued at approximately $353,000.
Several other institutional investors have also made changes to their positions in PNK. SG Americas Securities LLC purchased a new stake in Pinnacle Entertainment in the 3rd quarter worth about $150,000. Meeder Asset Management Inc. increased its holdings in Pinnacle Entertainment by 35.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock worth $176,000 after acquiring an additional 2,166 shares during the last quarter. Pacad Investment Ltd. increased its holdings in Pinnacle Entertainment by 212.3% in the 2nd quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after acquiring an additional 6,580 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Pinnacle Entertainment in the 3rd quarter worth about $202,000. Finally, Macquarie Group Ltd. purchased a new stake in Pinnacle Entertainment in the 3rd quarter worth about $271,000. 92.73% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on PNK shares. Bank of America lifted their target price on Pinnacle Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. BidaskClub raised Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Barclays lifted their target price on Pinnacle Entertainment from $25.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Finally, Stifel Nicolaus lifted their target price on Pinnacle Entertainment from $23.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pinnacle Entertainment currently has a consensus rating of “Buy” and a consensus target price of $27.57.
Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $647.40 million during the quarter, compared to the consensus estimate of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. sell-side analysts forecast that Pinnacle Entertainment Inc will post 0.81 earnings per share for the current year.
In other Pinnacle Entertainment news, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the transaction, the chairman now owns 828,562 shares in the company, valued at approximately $15,618,393.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.33% of the company’s stock.
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.
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