Gabelli Funds LLC lowered its position in shares of Pinnacle Entertainment Inc (NASDAQ:PNK) by 9.0% in the fourth quarter, HoldingsChannel reports. The firm owned 253,000 shares of the company’s stock after selling 25,000 shares during the period. Gabelli Funds LLC’s holdings in Pinnacle Entertainment were worth $8,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNK. SG Americas Securities LLC bought a new stake in Pinnacle Entertainment during the 3rd quarter worth about $150,000. Meeder Asset Management Inc. grew its holdings in Pinnacle Entertainment by 35.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock worth $176,000 after acquiring an additional 2,166 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Pinnacle Entertainment during the 3rd quarter worth about $202,000. Macquarie Group Ltd. bought a new stake in Pinnacle Entertainment during the 3rd quarter worth about $271,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Pinnacle Entertainment during the 2nd quarter worth about $277,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

PNK has been the topic of a number of research analyst reports. ValuEngine lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Citigroup lowered shares of Pinnacle Entertainment to a “hold” rating in a research note on Tuesday, December 19th. Zacks Investment Research lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BidaskClub raised shares of Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Finally, Bank of America raised their target price on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Pinnacle Entertainment currently has an average rating of “Hold” and an average target price of $30.14.

Pinnacle Entertainment Inc (NASDAQ:PNK) opened at $30.32 on Friday. The stock has a market cap of $1,965.46, a PE ratio of 39.89 and a beta of 1.44. The company has a debt-to-equity ratio of -11.36, a current ratio of 0.71 and a quick ratio of 0.68. Pinnacle Entertainment Inc has a one year low of $15.86 and a one year high of $33.59.

Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $647.40 million for the quarter, compared to analyst estimates of $652.13 million. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. sell-side analysts expect that Pinnacle Entertainment Inc will post 0.81 earnings per share for the current fiscal year.

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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.

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

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