Pinnacle Entertainment (PNK) : 2 days before expiry, shorts in Pinnacle Entertainment (PNK) have reduced from 3,116,373 on Jul 29, 2016, to 1,999,520 on August 15, 2016. On an average, 928,433 shares are traded on the exchange. The outstanding bearish positions are equal to 3.4% of the float. Short sellers have covered -1,116,853 shares, a reduction of -35.8%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Pinnacle Entertainment (NYSE:PNK): The stock opened at $12.19 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.27 for the day. The stock traded down to $11.87 during the day, due to lack of any buying support eventually closed down at $11.97 with a loss of -2.60% for the day. The stock had closed at $12.29 on the previous day. The total traded volume was 1,029,645 shares.
In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Pinnacle Entertainment, Inc., Sanfilippo Anthony Michael had purchased shares worth of $1,705,385 in a transaction dated on June 13, 2016. A total of 153,500 shares were purchased at a price of $11.11 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
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.