Pinnacle Entertainment Inc (PNK) Shares Sold by Martingale Asset Management L P
Martingale Asset Management L P lessened its holdings in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,651 shares of the company’s stock after selling 9,386 shares during the quarter. Martingale Asset Management L P’s holdings in Pinnacle Entertainment were worth $2,018,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Pinnacle Entertainment during the 3rd quarter worth $150,000. Dynamic Technology Lab Private Ltd acquired a new stake in Pinnacle Entertainment during the 3rd quarter worth $202,000. Connable Office Inc. acquired a new stake in Pinnacle Entertainment during the 4th quarter worth $242,000. Macquarie Group Ltd. acquired a new stake in Pinnacle Entertainment during the 3rd quarter worth $271,000. Finally, Wedge Capital Management L L P NC acquired a new stake in Pinnacle Entertainment during the 3rd quarter worth $331,000. 85.39% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on PNK shares. Deutsche Bank increased their target price on Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. ValuEngine cut Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays increased their target price on Pinnacle Entertainment from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. Bank of America increased their target price on Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.14.
Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Friday, February 23rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.22. The firm had revenue of $620.83 million during the quarter, compared to analysts’ expectations of $635.70 million. Pinnacle Entertainment had a negative return on equity of 18.61% and a net margin of 2.46%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. equities analysts forecast that Pinnacle Entertainment Inc will post 1.11 earnings per share for the current year.
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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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