Pinnacle Entertainment, Inc (NYSE:PNK) Stock Gains


Dallas, Texas 07/08/2015 (Financialstrend) – Pinnacle Entertainment, Inc (NYSE:PNK), the developer of entertainment facilities for the hospitality industry, posted gains, of 5.82% on Tuesday. The stock was biggest gainers on the Russell 2000, with the stock popping to $39.64 per share. The gains were equivalent to $2.18 per share. Investors in the company found an upside, after Gaming Leisure Properties decided revise an earlier offer to own the real estate assets of the entertainment developer.

As per the new offer, Pinnacle shareholders 0.85 common shares of Gaming and Leisure Properties for every share of Pinnacle. The offer is over 0.5517 shares higher than its previous offer. The value, as per new offer is $47.50 per share. This is $36 higher over the earlier offer.

Gaming and Leisure Properties claimed that it had now finalized on a secure source for funding this real estate gains, immediately.

As on Tuesday, Pinnacle Entertainment, Inc (NYSE:PNK) shares numbered 1.7 million shares, which was much higher than the average trading volume of 792,000 shares.

As per analyst rating, Pinnacle Entertainment Inc is a ‘hold.’  The factors which influence the rating are certain strengths, though there are some conceived weaknesses as well. The positives which have augured well for the company are the revenue growth. It has also displayed strong Earnings Per Share as well as strong net income growth. But a strong negative that the company has demonstrated that it favors debt over equity.

The stock had crested S&P 500 Index too in the same period. But the appreciation that the company has posted in recent times, has led to downturn in investment sentiments. Pinnacle Entertainment, Inc (NYSE:PNK) has showed revenue growth which is much higher than the industry average of 7.3%. Earnings growth was reported at 41.93%, which has also showed a surge of 47.06% in the past year.

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