Legal & General Group Plc Has $613,000 Stake in Pinnacle Entertainment, Inc. (NASDAQ:PNK)

Legal & General Group Plc boosted its position in Pinnacle Entertainment, Inc. (NASDAQ:PNK) by 78.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 31,451 shares of the company’s stock after buying an additional 13,850 shares during the period. Legal & General Group Plc owned about 0.06% of Pinnacle Entertainment worth $613,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Pinnacle Entertainment during the fourth quarter worth about $210,000. Norges Bank bought a new position in shares of Pinnacle Entertainment during the fourth quarter worth about $17,389,000. State Street Corp raised its position in shares of Pinnacle Entertainment by 3.4% in the fourth quarter. State Street Corp now owns 1,068,102 shares of the company’s stock worth $15,488,000 after buying an additional 34,806 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Pinnacle Entertainment during the first quarter worth about $409,000. Finally, Alliancebernstein L.P. raised its position in shares of Pinnacle Entertainment by 115.9% in the first quarter. Alliancebernstein L.P. now owns 195,110 shares of the company’s stock worth $3,809,000 after buying an additional 104,750 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Shares of Pinnacle Entertainment, Inc. (PNK) opened at 19.36 on Friday. Pinnacle Entertainment, Inc. has a one year low of $10.54 and a one year high of $22.10. The company’s market cap is $1.11 billion. The firm has a 50-day moving average of $19.73 and a 200 day moving average of $18.74.

Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Wednesday, May 10th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.12. The firm had revenue of $640 million for the quarter, compared to analyst estimates of $639.86 million. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Pinnacle Entertainment, Inc. will post $0.97 EPS for the current year.

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A number of equities analysts recently issued reports on the stock. BidaskClub lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Telsey Advisory Group boosted their target price on shares of Pinnacle Entertainment from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 10th. Deutsche Bank AG boosted their target price on shares of Pinnacle Entertainment from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Barclays PLC boosted their target price on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $20.29.

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.