Pinnacle Entertainment Inc (PNK) Short Interest Up 41.1% in February
Pinnacle Entertainment Inc (NASDAQ:PNK) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,207,819 shares, an increase of 41.1% from the January 31st total of 856,077 shares. Based on an average daily trading volume, of 811,397 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.0% of the company’s stock are sold short.
Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new position in shares of Pinnacle Entertainment in the 4th quarter valued at about $747,000. PEAK6 Investments L.P. lifted its holdings in shares of Pinnacle Entertainment by 97.4% in the 4th quarter. PEAK6 Investments L.P. now owns 310,391 shares of the company’s stock valued at $10,159,000 after buying an additional 153,162 shares during the period. Paloma Partners Management Co acquired a new position in shares of Pinnacle Entertainment in the 4th quarter valued at about $1,467,000. Two Sigma Investments LP lifted its holdings in shares of Pinnacle Entertainment by 7.9% in the 4th quarter. Two Sigma Investments LP now owns 591,170 shares of the company’s stock valued at $19,349,000 after buying an additional 43,232 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Pinnacle Entertainment by 25.6% in the 4th quarter. Two Sigma Advisers LP now owns 564,297 shares of the company’s stock valued at $18,469,000 after buying an additional 114,934 shares during the period. 85.39% of the stock is owned by institutional investors.
Shares of Pinnacle Entertainment (NASDAQ PNK) opened at $30.00 on Friday. Pinnacle Entertainment has a 52-week low of $16.55 and a 52-week high of $33.59. The company has a debt-to-equity ratio of -2.53, a quick ratio of 0.68 and a current ratio of 0.53. The company has a market capitalization of $1,720.00 and a PE ratio of 44.12.
Several research analysts recently weighed in on the company. BidaskClub downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. SunTrust Banks reaffirmed an “average” rating and set a $35.00 price target on shares of Pinnacle Entertainment in a research report on Monday, February 5th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Pinnacle Entertainment in a research report on Tuesday, December 19th. Macquarie cut Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 19th. Finally, Citigroup cut Pinnacle Entertainment to a “hold” rating in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $30.14.
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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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