Pinnacle Entertainment, Inc. (NASDAQ:PNK) Director Jaynie M. Studenmund sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $19.89, for a total value of $397,800.00. Following the sale, the director now directly owns 78,230 shares in the company, valued at approximately $1,555,994.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pinnacle Entertainment, Inc. (NASDAQ PNK) opened at 19.36 on Wednesday. Pinnacle Entertainment, Inc. has a 52-week low of $11.10 and a 52-week high of $22.10. The stock has a market capitalization of $1.12 billion, a PE ratio of 68.65 and a beta of 1.31. The firm’s 50-day moving average is $19.55 and its 200 day moving average is $19.25.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $653.60 million for the quarter, compared to analyst estimates of $647.36 million. During the same quarter in the previous year, the company posted ($8.04) EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Pinnacle Entertainment, Inc. will post $0.81 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Pinnacle Entertainment during the second quarter valued at $121,000. Oppenheimer Asset Management Inc. acquired a new position in Pinnacle Entertainment during the first quarter valued at $140,000. Pacad Investment Ltd. increased its position in Pinnacle Entertainment by 212.3% in the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after buying an additional 6,580 shares during the last quarter. Karp Capital Management Corp acquired a new position in Pinnacle Entertainment during the first quarter valued at $220,000. Finally, Guggenheim Capital LLC acquired a new position in Pinnacle Entertainment during the fourth quarter valued at $227,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Several research firms have issued reports on PNK. BidaskClub raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.00 price target on shares of Pinnacle Entertainment in a report on Friday, August 11th. Zacks Investment Research cut Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Telsey Advisory Group upped their price target on Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. Finally, Barclays PLC upped their price target on Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $21.83.

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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