American Century Companies Inc. Acquires Shares of 36,380 Pinnacle Entertainment, Inc. (PNK)
American Century Companies Inc. acquired a new position in shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 36,380 shares of the company’s stock, valued at approximately $719,000. American Century Companies Inc. owned 0.06% of Pinnacle Entertainment as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNK. Meeder Asset Management Inc. purchased a new position in Pinnacle Entertainment during the second quarter worth $121,000. Oppenheimer Asset Management Inc. purchased a new position in Pinnacle Entertainment during the first quarter worth $140,000. Karp Capital Management Corp purchased a new position in Pinnacle Entertainment during the first quarter worth $220,000. Airain ltd purchased a new position in Pinnacle Entertainment during the first quarter worth $250,000. Finally, Jane Street Group LLC purchased a new position in Pinnacle Entertainment during the first quarter worth $264,000. 89.59% of the stock is owned by institutional investors.
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In other news, Director Jaynie M. Studenmund sold 20,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $19.89, for a total transaction of $397,800.00. Following the completion of the transaction, the director now directly owns 78,230 shares in the company, valued at approximately $1,555,994.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Neil E. Walkoff sold 60,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $19.14, for a total value of $1,148,400.00. Following the transaction, the executive vice president now owns 282,076 shares of the company’s stock, valued at $5,398,934.64. The disclosure for this sale can be found here. 8.33% of the stock is owned by company insiders.
PNK has been the subject of several recent analyst reports. BidaskClub raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a research note on Friday, August 11th. Zacks Investment Research raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Barclays PLC lifted their price objective on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $21.83.
Shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) opened at 19.43 on Monday. Pinnacle Entertainment, Inc. has a 52 week low of $11.29 and a 52 week high of $22.10. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 68.90 and a beta of 1.31. The stock’s 50 day moving average is $19.12 and its 200-day moving average is $18.50.
Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Pinnacle Entertainment had a negative return on equity of 8.88% and a net margin of 0.68%. The company had revenue of $653.60 million during the quarter, compared to analyst estimates of $647.36 million. During the same period last year, the business earned ($8.04) earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. On average, analysts anticipate that Pinnacle Entertainment, Inc. will post $0.79 earnings per share for the current fiscal year.
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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