Pinstripes’ (PNST) Outperform Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Pinstripes (NYSE:PNST) in a research note released on Wednesday morning,RTT News reports.

PNST has been the subject of a number of other reports. Oppenheimer reduced their price objective on shares of Pinstripes from $5.00 to $2.00 and set an “outperform” rating for the company in a report on Wednesday. BTIG Research cut their price target on shares of 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 %

NYSE PNST opened at $0.77 on Wednesday. Pinstripes has a twelve month low of $0.56 and a twelve month high of $16.00. The firm has a 50-day simple moving average of $0.77 and a 200 day simple moving average of $1.80.

Pinstripes (NYSE:PNST) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.12). The firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $34.45 million. As a group, sell-side analysts expect that Pinstripes will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Pinstripes

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pinstripes in the 2nd quarter worth approximately $1,714,000. Lakewood Asset Management LLC acquired a new position in Pinstripes in the second quarter worth $246,000. Horizon Wealth Management LLC bought a new stake in shares of Pinstripes during the second quarter worth $46,000. Rothschild Investment LLC acquired a new stake in shares of Pinstripes in the second quarter valued at $36,000. Finally, Greenwood Gearhart Inc. bought a new position in shares of Pinstripes in the second quarter valued at about $70,000. 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.