Spark Investment Management LLC cut its stake in Pinnacle Entertainment Inc (NASDAQ:PNK) by 20.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,400 shares of the company’s stock after selling 122,200 shares during the period. Pinnacle Entertainment accounts for 0.9% of Spark Investment Management LLC’s portfolio, making the stock its 11th largest position. Spark Investment Management LLC owned approximately 0.80% of Pinnacle Entertainment worth $15,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Guggenheim Capital LLC acquired a new stake in shares of Pinnacle Entertainment in the 4th quarter worth about $222,000. Quantbot Technologies LP acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth about $243,000. 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. Point72 Asset Management L.P. acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth about $295,000. Finally, Mint Tower Capital Management B.V. acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth about $302,000. 85.92% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 18th. Zacks Investment Research upgraded shares of Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reiterated a “hold” rating and issued a $35.00 target price on shares of Pinnacle Entertainment in a research report on Thursday. Finally, ValuEngine lowered shares of Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Pinnacle Entertainment currently has a consensus rating of “Hold” and an average price target of $32.00.

Shares of PNK opened at $33.74 on Monday. The stock has a market capitalization of $1.94 billion, a P/E ratio of 33.08 and a beta of 1.37. The company has a debt-to-equity ratio of -13.62, a current ratio of 0.88 and a quick ratio of 0.84. Pinnacle Entertainment Inc has a 52-week low of $18.30 and a 52-week high of $35.18.

Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Pinnacle Entertainment had a negative return on equity of 24.61% and a net margin of 3.16%. The firm had revenue of $647.60 million during the quarter, compared to analyst estimates of $649.20 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. equities research analysts expect that Pinnacle Entertainment Inc will post 1.15 EPS for the current fiscal 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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