Yost Capital Management L.l.c. buys $10,965,540 stake in Pinnacle Entertainment Inc (PNK)

Pinnacle Entertainment Inc (PNK) : Yost Capital Management L.l.c. scooped up 671,000 additional shares in Pinnacle Entertainment Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,021,000 shares of Pinnacle Entertainment Inc which is valued at $10,965,540.Pinnacle Entertainment Inc makes up approximately 5.52% of Yost Capital Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan sold out all of its stake in PNK during the most recent quarter. The investment firm sold 12,700 shares of PNK which is valued $136,398.Tiaa Cref Investment Management boosted its stake in PNK in the latest quarter, The investment management firm added 92,703 additional shares and now holds a total of 301,957 shares of Pinnacle Entertainment Inc which is valued at $3,243,018. Fuller Thaler Asset Management added PNK to its portfolio by purchasing 621,100 company shares during the most recent quarter which is valued at $6,645,770. Pinnacle Entertainment Inc makes up approx 0.11% of Fuller Thaler Asset Management’s portfolio.Jennison Associates reduced its stake in PNK by selling 616,564 shares or 22.11% in the most recent quarter. The Hedge Fund company now holds 2,171,564 shares of PNK which is valued at $23,583,185. Pinnacle Entertainment Inc makes up approx 0.02% of Jennison Associates’s portfolio. New York State Teachers Retirement System sold out all of its stake in PNK during the most recent quarter. The investment firm sold 155,980 shares of PNK which is valued $1,706,421.

Pinnacle Entertainment Inc opened for trading at $12.1 and hit $12.21 on the upside on Thursday, eventually ending the session at $12.14, with a gain of 0.83% or 0.1 points. The heightened volatility saw the trading volume jump to 2,97,657 shares. Company has a market cap of $694 M.

On the company’s financial health, Pinnacle Entertainment Inc reported $-8.04 EPS for the quarter, missing the analyst consensus estimate by $ -8.17 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.13. The company had revenue of $566.20 million for the quarter, compared to analysts expectations of $578.07 million. The company’s revenue was down -2.7 % compared to the same quarter last year.

Many Wall Street Analysts have commented on Pinnacle Entertainment Inc. 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 Company’s 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 Company’s 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 Company’s 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.

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