40,000 Shares in Pinnacle Entertainment Inc (NASDAQ:PNK) Acquired by Kassirer Asset Management Corp

Kassirer Asset Management Corp bought a new stake in Pinnacle Entertainment Inc (NASDAQ:PNK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the company’s stock, valued at approximately $1,309,000. Pinnacle Entertainment accounts for approximately 1.3% of Kassirer Asset Management Corp’s portfolio, making the stock its 27th biggest holding. Kassirer Asset Management Corp owned 0.06% of Pinnacle Entertainment as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PNK. Hennessy Advisors Inc. acquired a new position in Pinnacle Entertainment during the 4th quarter worth approximately $37,008,000. JPMorgan Chase & Co. raised its position in shares of Pinnacle Entertainment by 56.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,326,851 shares of the company’s stock valued at $49,608,000 after purchasing an additional 843,646 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Pinnacle Entertainment by 339.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock valued at $20,378,000 after purchasing an additional 796,800 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Pinnacle Entertainment by 137.1% in the 4th quarter. Acadian Asset Management LLC now owns 755,012 shares of the company’s stock valued at $24,712,000 after purchasing an additional 436,639 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Pinnacle Entertainment by 12.5% in the 3rd quarter. Jennison Associates LLC now owns 3,537,786 shares of the company’s stock valued at $75,390,000 after purchasing an additional 393,813 shares in the last quarter. 83.94% of the stock is owned by institutional investors.

Shares of Pinnacle Entertainment Inc (NASDAQ PNK) traded up $0.03 during trading hours on Wednesday, reaching $30.59. The company had a trading volume of 995,400 shares, compared to its average volume of 628,370. Pinnacle Entertainment Inc has a 1 year low of $16.03 and a 1 year high of $33.59. The company has a market cap of $1,981.01, a P/E ratio of 40.21 and a beta of 1.44. The company has a debt-to-equity ratio of -11.36, a quick ratio of 0.68 and a current ratio of 0.71.

A number of equities research analysts have recently weighed in on PNK shares. Bank of America boosted their price target on Pinnacle Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 23rd. BidaskClub raised Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Stifel Nicolaus upped their price objective on Pinnacle Entertainment from $23.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Deutsche Bank upped their price objective on Pinnacle Entertainment from $20.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Finally, Barclays upped their target price on Pinnacle Entertainment from $25.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Pinnacle Entertainment presently has an average rating of “Hold” and a consensus target price of $30.14.

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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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