Convergence Investment Partners LLC grew its position in Pinnacle Entertainment Inc (NASDAQ:PNK) by 232.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,198 shares of the company’s stock after purchasing an additional 74,915 shares during the period. Convergence Investment Partners LLC’s holdings in Pinnacle Entertainment were worth $3,509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Bamco Inc. NY raised its holdings in shares of Pinnacle Entertainment by 5.6% in the third quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock valued at $110,897,000 after purchasing an additional 275,100 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Pinnacle Entertainment by 4.7% in the second quarter. Vanguard Group Inc. now owns 4,501,854 shares of the company’s stock valued at $88,957,000 after purchasing an additional 204,044 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Pinnacle Entertainment by 12.5% in the third quarter. Jennison Associates LLC now owns 3,537,786 shares of the company’s stock valued at $75,390,000 after purchasing an additional 393,813 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Pinnacle Entertainment by 56.9% in the third quarter. JPMorgan Chase & Co. now owns 2,326,851 shares of the company’s stock valued at $49,608,000 after purchasing an additional 843,646 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Pinnacle Entertainment by 12.2% in the second quarter. State Street Corp now owns 1,217,256 shares of the company’s stock valued at $24,053,000 after purchasing an additional 132,136 shares during the last quarter. Institutional investors own 82.19% of the company’s stock.

Shares of Pinnacle Entertainment Inc (NASDAQ PNK) opened at $32.87 on Wednesday. Pinnacle Entertainment Inc has a 1-year low of $13.61 and a 1-year high of $33.59. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of -11.36. The stock has a market cap of $1,890.00 and a PE ratio of 65.74.

Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $647.40 million during the quarter, compared to analyst estimates of $652.13 million. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. analysts forecast that Pinnacle Entertainment Inc will post 0.81 EPS for the current fiscal year.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Saturday, November 11th. Bank of America raised their price objective on shares of Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Telsey Advisory Group raised their price objective on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Deutsche Bank raised their price objective on shares of Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Finally, BidaskClub upgraded shares of Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.57.

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

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