Golden Entertainment, Inc. (NASDAQ:GDEN) Sees Large Increase in Short Interest

Golden Entertainment, Inc. (NASDAQ:GDEN) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 461,800 shares, a growth of 27.4% from the May 31st total of 362,400 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average daily volume of 265,700 shares, the days-to-cover ratio is currently 1.7 days.

Golden Entertainment Stock Up 2.1 %

NASDAQ:GDEN opened at $31.11 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 2.33 and a current ratio of 2.36. The stock has a market capitalization of $900.63 million, a P/E ratio of 3.36 and a beta of 2.21. The company’s 50-day simple moving average is $30.74 and its 200-day simple moving average is $34.96. Golden Entertainment has a fifty-two week low of $28.20 and a fifty-two week high of $47.49.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.50). The firm had revenue of $174.05 million during the quarter, compared to analysts’ expectations of $168.72 million. Golden Entertainment had a return on equity of 1.13% and a net margin of 30.14%. On average, equities analysts anticipate that Golden Entertainment will post 0.5 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, June 14th. Golden Entertainment’s dividend payout ratio (DPR) is presently 10.79%.

Wall Street Analysts Forecast Growth

GDEN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Golden Entertainment from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Truist Financial dropped their target price on shares of Golden Entertainment from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. B. Riley began coverage on shares of Golden Entertainment in a report on Friday, April 26th. They issued a “buy” rating and a $46.00 price target for the company. Finally, StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Institutional Investors Weigh In On Golden Entertainment

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in Golden Entertainment by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,984 shares of the company’s stock worth $5,742,000 after purchasing an additional 3,255 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Golden Entertainment by 111.8% during the third quarter. American Century Companies Inc. now owns 153,059 shares of the company’s stock worth $5,232,000 after buying an additional 80,784 shares during the period. Vanguard Group Inc. grew its holdings in shares of Golden Entertainment by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,556,412 shares of the company’s stock valued at $53,198,000 after buying an additional 3,988 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Golden Entertainment by 83.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 251,299 shares of the company’s stock valued at $10,034,000 after acquiring an additional 114,454 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Golden Entertainment during the 4th quarter valued at about $973,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.