Convergence Investment Partners LLC Has $3.51 Million Stake in Pinnacle Entertainment Inc (PNK)

Convergence Investment Partners LLC grew its position in Pinnacle Entertainment Inc (NASDAQ:PNK) by 232.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,198 shares of the company’s stock after purchasing an additional 74,915 shares during the quarter. Convergence Investment Partners LLC owned approximately 0.17% of Pinnacle Entertainment worth $3,509,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in Pinnacle Entertainment by 104.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 478,279 shares of the company’s stock worth $9,451,000 after acquiring an additional 244,057 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Pinnacle Entertainment by 18.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 50,784 shares of the company’s stock worth $1,003,000 after acquiring an additional 7,732 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pinnacle Entertainment by 0.8% during the second quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock worth $788,000 after acquiring an additional 330 shares in the last quarter. Principal Financial Group Inc. bought a new position in Pinnacle Entertainment during the second quarter worth $281,000. Finally, Alliancebernstein L.P. boosted its stake in Pinnacle Entertainment by 13.1% during the second quarter. Alliancebernstein L.P. now owns 220,760 shares of the company’s stock worth $4,362,000 after acquiring an additional 25,650 shares in the last quarter. 82.19% of the stock is currently owned by institutional investors.

Pinnacle Entertainment Inc (NASDAQ PNK) opened at $32.87 on Wednesday. The company has a debt-to-equity ratio of -11.36, a quick ratio of 0.68 and a current ratio of 0.71. Pinnacle Entertainment Inc has a 1-year low of $13.61 and a 1-year high of $33.59. The firm has a market cap of $1,890.00 and a price-to-earnings ratio of 65.74.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The firm had revenue of $647.40 million for the quarter, compared to the consensus estimate of $652.13 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. equities analysts forecast that Pinnacle Entertainment Inc will post 0.81 EPS for the current year.

Several brokerages recently issued reports on PNK. Deutsche Bank increased their target price on shares of Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. ValuEngine lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Telsey Advisory Group increased their target price on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. Barclays increased their target price on shares of Pinnacle Entertainment from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 8th. Finally, Bank of America increased their target price on shares of Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Pinnacle Entertainment currently has an average rating of “Hold” and a consensus price target of $27.57.

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

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