Cowen Inc. Has $330,000 Position in Pinnacle Entertainment Inc (PNK)
Cowen Inc. decreased its holdings in Pinnacle Entertainment Inc (NASDAQ:PNK) by 38.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,500 shares of the company’s stock after selling 9,500 shares during the quarter. Cowen Inc.’s holdings in Pinnacle Entertainment were worth $330,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PNK. SG Americas Securities LLC bought a new stake in Pinnacle Entertainment during the third quarter valued at $150,000. Meeder Asset Management Inc. boosted its position in Pinnacle Entertainment by 35.5% during the third quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock valued at $176,000 after acquiring an additional 2,166 shares during the last quarter. Pacad Investment Ltd. boosted its position in Pinnacle Entertainment by 212.3% during the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after acquiring an additional 6,580 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Pinnacle Entertainment during the third quarter valued at $202,000. Finally, Macquarie Group Ltd. bought a new stake in Pinnacle Entertainment during the third quarter valued at $271,000. 92.73% of the stock is currently owned by institutional investors.
Pinnacle Entertainment Inc (NASDAQ:PNK) opened at $30.87 on Friday. Pinnacle Entertainment Inc has a fifty-two week low of $13.61 and a fifty-two week high of $33.59. The firm has a market cap of $1,770.00 and a PE ratio of 41.33. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of -11.36.
In other Pinnacle Entertainment news, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the acquisition, the chairman now directly owns 828,562 shares of the company’s stock, valued at approximately $15,618,393.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is currently owned by corporate insiders.
A number of analysts have commented on the stock. BidaskClub raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Stifel Nicolaus upped their price target on shares of Pinnacle Entertainment from $23.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Barclays upped their price objective on shares of Pinnacle Entertainment from $25.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. ValuEngine lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Deutsche Bank upped their price objective on shares of Pinnacle Entertainment from $20.00 to $27.00 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 given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.57.
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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.
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