Wells Fargo & Company MN decreased its stake in Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 43.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,689 shares of the company’s stock after selling 104,738 shares during the period. Wells Fargo & Company MN’s holdings in Pinnacle Entertainment were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in shares of Pinnacle Entertainment during the fourth quarter worth approximately $115,000. Worth Venture Partners LLC purchased a new stake in shares of Pinnacle Entertainment during the fourth quarter worth approximately $146,000. AQR Capital Management LLC purchased a new stake in shares of Pinnacle Entertainment during the fourth quarter worth approximately $170,000. GSA Capital Partners LLP purchased a new stake in shares of Pinnacle Entertainment during the fourth quarter worth approximately $210,000. Finally, Guggenheim Capital LLC purchased a new stake in shares of Pinnacle Entertainment during the fourth quarter worth approximately $227,000. Hedge funds and other institutional investors own 88.61% of the company’s stock.

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

Shares of Pinnacle Entertainment, Inc. (PNK) opened at 20.46 on Tuesday. The firm’s market cap is $1.17 billion. The company has a 50 day moving average price of $20.28 and a 200-day moving average price of $17.64. Pinnacle Entertainment, Inc. has a 52-week low of $10.41 and a 52-week high of $22.10.

Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings results on Wednesday, May 10th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.12. Pinnacle Entertainment had a negative net margin of 19.73% and a negative return on equity of 415.78%. The business had revenue of $640 million for the quarter, compared to analysts’ expectations of $639.86 million. During the same quarter last year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that Pinnacle Entertainment, Inc. will post $0.97 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on PNK. Barclays PLC restated a “buy” rating on shares of Pinnacle Entertainment in a report on Wednesday, March 1st. Stifel Nicolaus boosted their price target on Pinnacle Entertainment from $15.00 to $19.00 and gave the company a “hold” rating in a report on Thursday, February 23rd. ValuEngine upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 20th. Zacks Investment Research lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, Telsey Advisory Group boosted their price target on Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $20.29.

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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