Golden Entertainment (NASDAQ:GDEN) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Golden Entertainment (NASDAQ:GDEN) in a report published on Monday morning, Marketbeat reports. The firm issued an overweight rating and a $38.00 price target on the stock.

A number of other brokerages also recently commented on GDEN. StockNews.com upgraded Golden Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Truist Financial lowered their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities lifted their price objective on Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a report on Monday, November 25th. B. Riley dropped their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, Macquarie dropped their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $37.33.

Golden Entertainment Stock Up 0.5 %

GDEN stock opened at $33.36 on Monday. The stock has a market capitalization of $915.03 million, a price-to-earnings ratio of 26.90 and a beta of 2.22. The company has a 50-day moving average of $31.86 and a two-hundred day moving average of $31.09. Golden Entertainment has a 52-week low of $27.42 and a 52-week 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.

Golden Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. Golden Entertainment’s payout ratio is presently 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 shares were sold at an average price of $33.32, for a total transaction of $25,756.36. Following the transaction, the director now owns 82,740 shares of the company’s stock, valued at $2,756,896.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 29.10% of the company’s stock.

Institutional Trading of Golden Entertainment

A number of large investors have recently made changes to their positions in the company. Systematic Financial Management LP raised its holdings in Golden Entertainment by 24.5% during the 3rd quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after buying an additional 69,207 shares during the period. Peregrine Capital Management LLC boosted its stake in Golden Entertainment by 43.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock worth $7,743,000 after purchasing an additional 74,867 shares during the period. Quest Partners LLC bought a new position in Golden Entertainment during the 2nd quarter worth about $1,180,000. SG Americas Securities LLC acquired a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $263,000. Finally, nVerses Capital LLC acquired a new position in shares of Golden Entertainment during the second quarter worth about $37,000. Institutional investors own 70.73% of the company’s stock.

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.