Pinnacle Entertainment Inc (PNK) Stake Lessened by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. lessened its stake in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 60.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 274,057 shares of the company’s stock after selling 425,926 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Pinnacle Entertainment were worth $8,983,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in Pinnacle Entertainment during the 4th quarter valued at approximately $37,008,000. JPMorgan Chase & Co. boosted its stake in Pinnacle Entertainment by 56.9% during 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 during the period. Acadian Asset Management LLC boosted its stake in Pinnacle Entertainment by 137.1% during 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 during the period. Jennison Associates LLC boosted its stake in Pinnacle Entertainment by 12.5% during 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 during the period. Finally, Wells Fargo & Company MN boosted its stake in Pinnacle Entertainment by 455.0% during the 4th quarter. Wells Fargo & Company MN now owns 344,628 shares of the company’s stock valued at $11,280,000 after purchasing an additional 282,531 shares during the period. Institutional investors own 83.94% of the company’s stock.

Pinnacle Entertainment Inc (PNK) opened at $30.73 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of -11.36. The company has a market capitalization of $1,992.04, a P/E ratio of 40.43 and a beta of 1.44. Pinnacle Entertainment Inc has a twelve month low of $16.03 and a twelve month high of $33.59.

PNK has been the subject of several recent analyst reports. Zacks Investment Research upgraded Pinnacle Entertainment from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Saturday, November 11th. Susquehanna Bancshares restated a “neutral” rating on shares of Pinnacle Entertainment in a research note on Tuesday, December 19th. SunTrust Banks restated an “average” rating and set a $35.00 target price on shares of Pinnacle Entertainment in a research note on Monday, February 5th. BidaskClub downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Macquarie downgraded Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 19th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.14.

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Pinnacle Entertainment 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.

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

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