Alambic Investment Management L.P. grew its stake in Pinnacle Entertainment (NASDAQ:PNK) by 66.6% during the first quarter, HoldingsChannel reports. The fund owned 115,100 shares of the company’s stock after purchasing an additional 46,000 shares during the quarter. Alambic Investment Management L.P.’s holdings in Pinnacle Entertainment were worth $3,470,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in shares of Pinnacle Entertainment by 28.3% during the third quarter. Wells Fargo & Company MN now owns 62,097 shares of the company’s stock valued at $1,324,000 after purchasing an additional 13,692 shares in the last quarter. Convergence Investment Partners LLC lifted its holdings in shares of Pinnacle Entertainment by 232.1% during the 4th quarter. Convergence Investment Partners LLC now owns 107,198 shares of the company’s stock valued at $3,509,000 after buying an additional 74,915 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Pinnacle Entertainment by 137.1% during the 4th quarter. Acadian Asset Management LLC now owns 755,012 shares of the company’s stock valued at $24,712,000 after buying an additional 436,639 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Pinnacle Entertainment in the 4th quarter worth approximately $37,008,000. Finally, American Century Companies Inc. lifted its holdings in Pinnacle Entertainment by 68.0% in the 4th quarter. American Century Companies Inc. now owns 62,998 shares of the company’s stock worth $2,062,000 after purchasing an additional 25,500 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

A number of analysts have weighed in on PNK shares. BidaskClub upgraded Pinnacle Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. SunTrust Banks reaffirmed an “average” rating and set a $35.00 price target on shares of Pinnacle Entertainment in a research note on Monday, February 5th. ValuEngine raised Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $30.14.

Shares of Pinnacle Entertainment opened at $33.83 on Thursday, according to MarketBeat. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 33.35 and a beta of 1.40. Pinnacle Entertainment has a 12 month low of $33.82 and a 12 month high of $33.99. The company has a debt-to-equity ratio of -12.88, a quick ratio of 0.85 and a current ratio of 0.89.

Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Wednesday, May 9th. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $628.40 million for the quarter, compared to the consensus estimate of $638.64 million. Pinnacle Entertainment had a negative return on equity of 20.78% and a net margin of 2.66%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. equities research analysts forecast that Pinnacle Entertainment will post 1.21 EPS for the current year.

Pinnacle Entertainment 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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