Pinnacle Entertainment (PNK) : Traders are bullish on Pinnacle Entertainment (PNK) as it has outperformed the S&P 500 by a wide margin of 7.36% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 9.81%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 9.78% in the last 1 week, and is up 7.77% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Pinnacle Entertainment, Inc is up 15.14% in the last 3-month period. Year-to-Date the stock performance stands at 12.29%. The stock has recorded a 20-day Moving Average of 7.41% and the 50-Day Moving Average is 6.58%.
Pinnacle Entertainment (NYSE:PNK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $11.64 and $11.44 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $11.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $11.79, notching a gain of 1.11% for the day. The total traded volume was 843,633 . The stock had closed at $11.66 on the previous day.
Also, In a research note released to the investors, Telsey Advisory Group upgrades its rating on Pinnacle Entertainment (NYSE:PNK).The analysts at the brokerage house have a current rating of Outperform on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on May 11, 2016.
Pinnacle Entertainment, Inc. (Pinnacle) is an owner, operator and developer of casinos and related hospitality and entertainment facilities. The key properties in the Companys Midwest segment include Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St. Charles, Belterra, River City and Belterra Park. The key properties in the Companys South segment include Ameristar Vicksburg, Boomtown Bossier City, Boomtown New Orleans, LAuberge Baton Rouge and LAuberge Lake Charles. The key properties in the Companys West segment include Ameristar Black Hawk and Cactus Petes and Horseshu. The Company owns and operates around 15 gaming entertainment properties in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, and Ohio. It also holds a majority interest in the racing license owner, as well as a management contract, for Retama Park Racetrack located outside of San Antonio, Texas.