Hsbc Holdings PLC trimmed its stake in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 28.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,992 shares of the company’s stock after selling 108,470 shares during the quarter. Hsbc Holdings PLC’s holdings in Pinnacle Entertainment were worth $9,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNK. Victory Capital Management Inc. raised its holdings in shares of Pinnacle Entertainment by 15.9% during the second quarter. Victory Capital Management Inc. now owns 12,917 shares of the company’s stock worth $436,000 after purchasing an additional 1,772 shares during the period. Mint Tower Capital Management B.V. raised its holdings in shares of Pinnacle Entertainment by 25.0% during the second quarter. Mint Tower Capital Management B.V. now owns 12,500 shares of the company’s stock worth $422,000 after purchasing an additional 2,500 shares during the period. Virtu Financial LLC raised its holdings in shares of Pinnacle Entertainment by 38.5% during the third quarter. Virtu Financial LLC now owns 15,792 shares of the company’s stock worth $532,000 after purchasing an additional 4,386 shares during the period. Stevens Capital Management LP raised its holdings in shares of Pinnacle Entertainment by 13.3% during the third quarter. Stevens Capital Management LP now owns 46,488 shares of the company’s stock worth $1,566,000 after purchasing an additional 5,475 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Pinnacle Entertainment by 200.2% in the 2nd quarter. Sei Investments Co. now owns 8,614 shares of the company’s stock worth $290,000 after acquiring an additional 5,745 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.

A number of analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Pinnacle Entertainment in a report on Thursday, August 16th. ValuEngine cut shares of Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, August 18th. Finally, BidaskClub raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $36.00.

Shares of PNK opened at $32.55 on Thursday. Pinnacle Entertainment Inc has a one year low of $24.01 and a one year high of $35.18.

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Pinnacle Entertainment Company Profile

Pinnacle Entertainment, Inc owns, develops, and operates casinos and related hospitality and entertainment facilities in the United States. It operates through Midwest, South, and West segments. As of February 28, 2018, the company owned and operated 16 gaming entertainment businesses located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, and Pennsylvania.

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

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