Pinnacle Entertainment, Inc. (PNK) Director Jaynie M. Studenmund Sells 20,000 Shares
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.
TRADEMARK VIOLATION WARNING: “Pinnacle Entertainment, Inc. (PNK) Director Jaynie M. Studenmund Sells 20,000 Shares” was reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/pinnacle-entertainment-inc-pnk-director-jaynie-m-studenmund-sells-20000-shares/1531455.html.
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.
Receive News & Ratings for Pinnacle Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Entertainment Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.