ARP Americas LP bought a new stake in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) during the 4th quarter, Holdings Channel reports. The fund bought 220,540 shares of the company’s stock, valued at approximately $7,218,000. Pinnacle Entertainment makes up 2.1% of ARP Americas LP’s portfolio, making the stock its 9th biggest holding.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Pinnacle Entertainment during the fourth quarter valued at approximately $14,947,000. BlackRock Inc. boosted its position in shares of Pinnacle Entertainment by 0.5% during the fourth quarter. BlackRock Inc. now owns 3,603,853 shares of the company’s stock valued at $117,953,000 after purchasing an additional 19,500 shares in the last quarter. Capital Fund Management S.A. boosted its position in shares of Pinnacle Entertainment by 897.6% during the fourth quarter. Capital Fund Management S.A. now owns 196,529 shares of the company’s stock valued at $6,432,000 after purchasing an additional 176,829 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Pinnacle Entertainment during the fourth quarter valued at approximately $1,604,000. Finally, Wells Fargo & Company MN boosted its position in shares of Pinnacle Entertainment by 455.0% during the fourth 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 in the last quarter. 83.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pinnacle Entertainment Inc (NASDAQ PNK) opened at $30.73 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of -11.36. Pinnacle Entertainment Inc has a 1-year low of $16.03 and a 1-year high of $33.59. The company has a market capitalization of $1,992.04, a price-to-earnings ratio of 61.46 and a beta of 1.44.
Several research firms recently weighed in on PNK. BidaskClub lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. SunTrust Banks reissued an “average” rating and issued a $35.00 target price on shares of Pinnacle Entertainment in a report on Monday, February 5th. Susquehanna Bancshares reissued a “neutral” rating on shares of Pinnacle Entertainment in a report on Tuesday, December 19th. Macquarie downgraded Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 19th. Finally, Citigroup downgraded Pinnacle Entertainment to a “hold” rating in a report on Tuesday, December 19th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently 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.
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