Pinstripes (NYSE:PNST) Price Target Lowered to $5.00 at Oppenheimer

Pinstripes (NYSE:PNST) had its price objective lowered by Oppenheimer from $6.00 to $5.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Pinstripes Trading Down 22.7 %

Pinstripes stock opened at $1.70 on Thursday. Pinstripes has a twelve month low of $1.55 and a twelve month high of $16.00. The company has a 50 day moving average of $2.20 and a 200-day moving average of $2.82.

Pinstripes (NYSE:PNST) last announced its earnings results on Wednesday, September 4th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.12). The company had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $34.45 million. As a group, analysts anticipate that Pinstripes will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinstripes

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Pinstripes during the 2nd quarter worth approximately $1,714,000. Lakewood Asset Management LLC bought a new position in Pinstripes in the second quarter valued at $246,000. Greenwood Gearhart Inc. acquired a new stake in Pinstripes in the 2nd quarter valued at $70,000. Rothschild Investment LLC bought a new stake in Pinstripes during the 2nd quarter worth about $36,000. Finally, Horizon Wealth Management LLC acquired a new position in shares of Pinstripes during the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 56.79% of the company’s stock.

Pinstripes Company Profile

Pinstripes Holdings Inc operates a dining and entertainment concept restaurants. The company provides Italian-American food and beverage menu with bowling, bocce, and event space. It also offers private event options and catering services. The company is based in Northbrook, Illinois.