III Capital Management Invests $622,000 in Golden Entertainment, Inc. (NASDAQ:GDEN)

III Capital Management bought a new position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $622,000. III Capital Management owned about 0.07% of Golden Entertainment as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in Golden Entertainment during the second quarter worth about $1,537,000. Public Sector Pension Investment Board increased its stake in shares of Golden Entertainment by 7.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 47,788 shares of the company’s stock worth $1,487,000 after acquiring an additional 3,250 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Golden Entertainment by 1.2% during the 2nd quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock valued at $5,320,000 after acquiring an additional 2,000 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Golden Entertainment by 41.9% in the second quarter. Sei Investments Co. now owns 91,161 shares of the company’s stock valued at $2,836,000 after purchasing an additional 26,903 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Golden Entertainment in the second quarter valued at about $143,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

Insider Buying and Selling at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $33.32, for a total transaction of $25,756.36. Following the completion of the transaction, the director now directly owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 29.10% of the stock is owned by insiders.

Golden Entertainment Trading Up 2.8 %

NASDAQ:GDEN opened at $31.32 on Wednesday. The stock has a fifty day moving average price of $31.08 and a 200 day moving average price of $31.65. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. Golden Entertainment, Inc. has a 12-month low of $27.42 and a 12-month high of $42.14. The firm has a market cap of $886.98 million, a PE ratio of 3.38 and a beta of 2.23.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. The firm had revenue of $167.33 million for the quarter, compared to analysts’ expectations of $176.34 million. Sell-side analysts anticipate that Golden Entertainment, Inc. will post 0.23 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, September 17th. Golden Entertainment’s dividend payout ratio (DPR) is presently 10.79%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GDEN shares. Macquarie decreased their target price on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. B. Riley cut their target price on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Truist Financial lowered their target price on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, JMP Securities reduced their price target on shares of 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.20.

About Golden Entertainment

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.