Golden Entertainment, Inc. (NASDAQ:GDEN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its holdings in Golden Entertainment, Inc. (NASDAQ:GDEN) by 28.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,558 shares of the company’s stock after selling 2,941 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Golden Entertainment were worth $240,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Systematic Financial Management LP lifted its position in shares of Golden Entertainment by 78.2% in the second quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock valued at $8,805,000 after acquiring an additional 124,218 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Golden Entertainment by 43.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock valued at $7,743,000 after buying an additional 74,867 shares during the last quarter. Quest Partners LLC bought a new position in Golden Entertainment during the 2nd quarter worth approximately $1,180,000. SG Americas Securities LLC bought a new stake in shares of Golden Entertainment during the 2nd quarter valued at about $263,000. Finally, nVerses Capital LLC bought a new stake in Golden Entertainment in the second quarter valued at $37,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Stock Performance

GDEN opened at $33.36 on Tuesday. Golden Entertainment, Inc. has a 1 year low of $27.42 and a 1 year high of $41.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. The business’s 50-day moving average price is $31.86 and its two-hundred day moving average price is $31.09. The company has a market capitalization of $915.03 million, a price-to-earnings ratio of 26.90 and a beta of 2.22.

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s dividend payout ratio is currently 80.65%.

Insider Activity

In related news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment 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 directly owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 29.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GDEN. 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 report on Monday, September 23rd. Truist Financial reduced their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. JMP Securities upped their price objective on Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a research note on Monday, November 25th. StockNews.com raised shares of Golden Entertainment from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Macquarie reduced their target price on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Golden Entertainment has an average rating of “Buy” and a consensus price target of $37.33.

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.