Pinnacle Entertainment Inc (PNK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Pinnacle Entertainment Inc (NASDAQ:PNK) have earned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.60.

A number of equities analysts have recently issued reports on PNK shares. ValuEngine downgraded Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. BidaskClub downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Stifel Nicolaus restated a “hold” rating and issued a $35.00 price target on shares of Pinnacle Entertainment in a research note on Thursday, August 16th. Finally, Zacks Investment Research upgraded Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 18th.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Pinnacle Entertainment by 0.3% in the second quarter. BlackRock Inc. now owns 3,589,386 shares of the company’s stock worth $121,070,000 after purchasing an additional 11,582 shares during the last quarter. Gardner Lewis Asset Management L P increased its holdings in shares of Pinnacle Entertainment by 88.9% in the second quarter. Gardner Lewis Asset Management L P now owns 2,472,472 shares of the company’s stock worth $83,396,000 after purchasing an additional 1,163,367 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Pinnacle Entertainment by 25.4% in the second quarter. Renaissance Technologies LLC now owns 2,414,300 shares of the company’s stock worth $81,434,000 after purchasing an additional 489,400 shares during the last quarter. Alpine Associates Management Inc. increased its holdings in shares of Pinnacle Entertainment by 19.4% in the second quarter. Alpine Associates Management Inc. now owns 1,803,319 shares of the company’s stock worth $61,007,000 after purchasing an additional 292,448 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Pinnacle Entertainment by 49.6% in the second quarter. Acadian Asset Management LLC now owns 1,194,428 shares of the company’s stock worth $40,287,000 after purchasing an additional 396,264 shares during the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.

PNK stock remained flat at $$32.55 on Monday. Pinnacle Entertainment has a 12 month low of $24.01 and a 12 month high of $35.18.

Pinnacle Entertainment (NASDAQ:PNK) last issued 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). The business had revenue of $647.60 million during the quarter, compared to analyst estimates of $649.20 million. During the same quarter last year, the company posted ($0.15) EPS. The company’s revenue was down .9% on a year-over-year basis.

Pinnacle Entertainment Company 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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Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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