Golden Entertainment (NASDAQ:GDEN) Trading Down 7.5% After Insider Selling

Golden Entertainment, Inc. (NASDAQ:GDEN)’s share price fell 7.5% during trading on Monday after an insider sold shares in the company. The stock traded as low as $29.03 and last traded at $29.03. 74,543 shares traded hands during trading, a decline of 65% from the average session volume of 214,071 shares. The stock had previously closed at $31.37.

Specifically, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the sale, the director now owns 82,740 shares in the company, valued at approximately $2,756,896.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several research firms have commented on GDEN. JMP Securities dropped their price objective on Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Macquarie dropped their price objective on Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. B. Riley decreased their target price on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial decreased their target price on Golden Entertainment from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Golden Entertainment Trading Down 7.5 %

The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $840.39 million, a P/E ratio of 3.13 and a beta of 2.23. The firm has a 50-day moving average of $31.05 and a two-hundred day moving average of $31.68.

Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). The firm had revenue of $167.33 million during the quarter, compared to the consensus estimate of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. On average, analysts anticipate that Golden Entertainment, Inc. will post 0.25 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 3.44%. Golden Entertainment’s dividend payout ratio is presently 10.79%.

Hedge Funds Weigh In On Golden Entertainment

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Golden Entertainment by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock worth $327,000 after acquiring an additional 355 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Golden Entertainment by 6.7% during the first quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock worth $231,000 after acquiring an additional 394 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Golden Entertainment by 3.0% during the second quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock worth $564,000 after acquiring an additional 524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Golden Entertainment by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock worth $184,000 after acquiring an additional 892 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Golden Entertainment by 5.1% during the fourth quarter. BNP Paribas Financial Markets now owns 20,164 shares of the company’s stock worth $805,000 after acquiring an additional 983 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors.

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.