Golden Entertainment (NASDAQ:GDEN) Price Target Cut to $35.00

Golden Entertainment (NASDAQ:GDEN) had its price target lowered by stock analysts at JMP Securities from $36.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 17.57% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. B. Riley decreased their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Macquarie decreased their price objective on Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Truist Financial decreased their price objective on Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Golden Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

Golden Entertainment Stock Performance

NASDAQ GDEN opened at $29.77 on Monday. The company has a market cap of $861.81 million, a P/E ratio of 3.21 and a beta of 2.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. The stock has a 50-day moving average of $30.98 and a two-hundred day moving average of $31.26. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $42.14.

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 the consensus estimate of $0.22 by ($0.06). The firm had revenue of $167.33 million during the quarter, compared to analyst estimates of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. As a group, analysts anticipate that Golden Entertainment will post 0.18 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction of $25,756.36. Following the completion of the sale, the director now owns 82,740 shares in the company, valued at $2,756,896.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 29.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Golden Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in Golden Entertainment by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after buying an additional 355 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Golden Entertainment by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock valued at $564,000 after purchasing an additional 524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Golden Entertainment by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $184,000 after purchasing an additional 892 shares during the period. Innealta Capital LLC acquired a new position in shares of Golden Entertainment in the second quarter valued at approximately $34,000. Finally, nVerses Capital LLC acquired a new position in shares of Golden Entertainment in the second quarter valued at approximately $37,000. 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.