Chartwell Investment Partners LLC cut its stake in Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 82.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,607 shares of the company’s stock after selling 588,649 shares during the period. Chartwell Investment Partners LLC owned 0.22% of Pinnacle Entertainment worth $2,697,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Teachers Advisors LLC lifted its stake in Pinnacle Entertainment by 3.5% during the 1st quarter. Teachers Advisors LLC now owns 97,240 shares of the company’s stock valued at $1,898,000 after acquiring an additional 3,245 shares during the period. California Public Employees Retirement System lifted its stake in Pinnacle Entertainment by 82.2% during the 1st quarter. California Public Employees Retirement System now owns 123,656 shares of the company’s stock valued at $2,414,000 after acquiring an additional 55,800 shares during the period. Legal & General Group Plc lifted its stake in Pinnacle Entertainment by 78.7% during the 1st quarter. Legal & General Group Plc now owns 31,451 shares of the company’s stock valued at $613,000 after acquiring an additional 13,850 shares during the period. Vanguard Group Inc. lifted its stake in Pinnacle Entertainment by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,297,810 shares of the company’s stock valued at $83,892,000 after acquiring an additional 220,368 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Pinnacle Entertainment by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 461,987 shares of the company’s stock valued at $9,017,000 after acquiring an additional 15,527 shares during the period. Institutional investors own 92.62% of the company’s stock.

Pinnacle Entertainment, Inc. (NASDAQ PNK) opened at $29.04 on Friday. The company has a debt-to-equity ratio of -11.36, a quick ratio of 0.68 and a current ratio of 0.71. The firm has a market cap of $1,654.06, a P/E ratio of 37.88, a PEG ratio of 1.72 and a beta of 1.38. Pinnacle Entertainment, Inc. has a 1-year low of $13.30 and a 1-year high of $29.54.

Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. sell-side analysts anticipate that Pinnacle Entertainment, Inc. will post 0.81 earnings per share for the current year.

Several analysts have commented on PNK shares. 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 research note on Saturday, November 11th. BidaskClub upgraded shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus lifted their price objective on shares of Pinnacle Entertainment from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Bank of America Corporation lifted their price objective on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Barclays PLC lifted their price objective on shares of Pinnacle Entertainment from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pinnacle Entertainment presently has an average rating of “Buy” and an average price target of $27.57.

In other news, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average cost of $18.85 per share, with a total value of $407,160.00. Following the acquisition, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.33% of the stock is owned by insiders.

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Pinnacle Entertainment Company 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.

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

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