William Blair Reaffirms “Outperform” Rating for Pinstripes (NYSE:PNST)

Pinstripes (NYSE:PNST)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

Other equities analysts have also issued reports about the company. Oppenheimer decreased their price target on Pinstripes from $5.00 to $2.00 and set an “outperform” rating for the company in a research note on Wednesday. BTIG Research decreased their target price on Pinstripes from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday.

Pinstripes Trading Down 23.0 %

Shares of PNST opened at $0.77 on Wednesday. The firm has a 50-day moving average price of $0.76 and a 200 day moving average price of $1.79. Pinstripes has a 52-week low of $0.56 and a 52-week high of $16.00.

Pinstripes (NYSE:PNST) last issued its quarterly 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 firm had revenue of $30.60 million for the quarter, compared to the consensus estimate of $34.45 million. As a group, sell-side analysts predict that Pinstripes will post -0.65 EPS for the current year.

Institutional Trading of Pinstripes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new stake in shares of Pinstripes during the second quarter valued at $36,000. Horizon Wealth Management LLC acquired a new stake in Pinstripes during the 2nd quarter worth about $46,000. Greenwood Gearhart Inc. purchased a new stake in Pinstripes during the second quarter valued at about $70,000. Rockefeller Capital Management L.P. acquired a new position in shares of Pinstripes in the third quarter worth about $240,000. Finally, Lakewood Asset Management LLC purchased a new position in shares of Pinstripes in the second quarter worth approximately $246,000. 56.79% of the stock is owned by institutional investors and hedge funds.

About Pinstripes

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.