Algert Global LLC raised its stake in shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 120,123 shares of the company’s stock after buying an additional 3,663 shares during the period. Pinnacle Entertainment comprises 0.7% of Algert Global LLC’s holdings, making the stock its 26th largest position. Algert Global LLC’s holdings in Pinnacle Entertainment were worth $2,374,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PNK. Bank of New York Mellon Corp boosted its position in shares of Pinnacle Entertainment by 22.7% in the first quarter. Bank of New York Mellon Corp now owns 658,202 shares of the company’s stock valued at $12,849,000 after buying an additional 121,806 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Pinnacle Entertainment during the first quarter valued at $1,189,000. DUPONT CAPITAL MANAGEMENT Corp boosted its position in shares of Pinnacle Entertainment by 90.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 105,063 shares of the company’s stock valued at $2,051,000 after buying an additional 49,939 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Pinnacle Entertainment by 71.9% in the first quarter. Russell Investments Group Ltd. now owns 159,537 shares of the company’s stock valued at $3,114,000 after buying an additional 66,714 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Pinnacle Entertainment by 3,315.8% in the first quarter. Acadian Asset Management LLC now owns 682,745 shares of the company’s stock valued at $13,328,000 after buying an additional 662,757 shares during the last quarter. 89.45% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Entertainment, Inc. (NASDAQ PNK) opened at 19.47 on Monday. Pinnacle Entertainment, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The firm’s 50 day moving average is $19.73 and its 200 day moving average is $18.74. The company’s market cap is $1.12 billion.

Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings data on Wednesday, May 10th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.12. The company had revenue of $640 million for the quarter, compared to the consensus estimate of $639.86 million. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Analysts forecast that Pinnacle Entertainment, Inc. will post $0.96 EPS for the current fiscal year.

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Several equities analysts recently weighed in on the stock. Telsey Advisory Group raised their price target on shares of Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Deutsche Bank AG raised their price target on shares of Pinnacle Entertainment from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, April 28th. BidaskClub cut shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Barclays PLC raised their price target on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.29.

About Pinnacle Entertainment

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

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