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.

Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The firm had revenue of $647.40 million for the quarter, compared to analyst estimates of $652.13 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts forecast that Pinnacle Entertainment Inc will post 0.81 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Pinnacle Entertainment (NASDAQ:PNK)

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