Pinnacle Entertainment Inc (PNK) : Pyrrho Capital Management Lp added new position in Pinnacle Entertainment Inc during the most recent quarter end. The investment management firm now holds 172,000 shares of Pinnacle Entertainment Inc which is valued at $2,375,320 , the company said in a statement filed on Nov 14, 2016 with the SEC.Pinnacle Entertainment Inc makes up approximately 5.89% of Pyrrho Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Quinn Opportunity Partners boosted its stake in PNK in the latest quarter, The investment management firm added 31,000 additional shares and now holds a total of 174,000 shares of Pinnacle Entertainment Inc which is valued at $2,402,940. Pinnacle Entertainment Inc makes up approx 0.81% of Quinn Opportunity Partners’s portfolio.Emerald Acquisition Ltd. reduced its stake in PNK by selling 18,039 shares or 18.82% in the most recent quarter. The Hedge Fund company now holds 77,799 shares of PNK which is valued at $1,008,275.Blackrock Group Ltd boosted its stake in PNK in the latest quarter, The investment management firm added 1,332 additional shares and now holds a total of 30,056 shares of Pinnacle Entertainment Inc which is valued at $357,366. Stoneridge Investment Partners sold out all of its stake in PNK during the most recent quarter. The investment firm sold 88,574 shares of PNK which is valued $1,049,602.
Pinnacle Entertainment Inc closed down -0.04 points or -0.28% at $14.01 with 3,59,774 shares getting traded on Monday. Post opening the session at $14.02, the shares hit an intraday low of $13.9 and an intraday high of $14.02 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Pinnacle Entertainment Inc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 10, 2016. Analyst had a consensus of $-0.02. The company had revenue of $595.20 million for the quarter, compared to analysts expectations of $593.26 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.
Many Wall Street Analysts have commented on Pinnacle Entertainment Inc. Company shares were Reiterated by Telsey Advisory Group on Nov 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .Pinnacle Entertainment Inc was Initiated by BofA/Merrill to “Buy” on Aug 22, 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 L’Auberge Baton Rouge and L’Auberge 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.