Rhumbline Advisers Grows Stake in Golden Entertainment, Inc. (NASDAQ:GDEN)

Rhumbline Advisers boosted its holdings in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,291 shares of the company’s stock after buying an additional 1,102 shares during the period. Rhumbline Advisers owned approximately 0.19% of Golden Entertainment worth $1,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GDEN. New York State Teachers Retirement System boosted its position in shares of Golden Entertainment by 6.4% during the 3rd quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after acquiring an additional 494 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Golden Entertainment in the third quarter valued at approximately $875,000. Empowered Funds LLC lifted its position in Golden Entertainment by 5.0% during the third quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after purchasing an additional 402 shares during the last quarter. Accredited Investors Inc. purchased a new position in Golden Entertainment in the 3rd quarter worth approximately $374,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Golden Entertainment in the 3rd quarter worth $42,000. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $31.26, for a total value of $518,478.36. Following the sale, the director now directly owns 61,616 shares of the company’s stock, valued at $1,926,116.16. This trade represents a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is owned by insiders.

Golden Entertainment Trading Down 2.7 %

Shares of GDEN stock opened at $30.01 on Wednesday. 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 has a 50-day moving average of $32.21 and a 200 day moving average of $31.93. The stock has a market capitalization of $823.14 million, a PE ratio of 24.20 and a beta of 2.21. Golden Entertainment, Inc. has a 1-year low of $27.42 and a 1-year high of $36.92.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, March 21st. Golden Entertainment’s dividend payout ratio is 59.88%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GDEN. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Jefferies Financial Group upped their price objective on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a report on Thursday, January 16th. Wells Fargo & Company initiated coverage on Golden Entertainment in a research report on Monday, December 16th. They issued an “overweight” rating and a $38.00 target price for the company. Finally, Macquarie reiterated an “outperform” rating and set a $40.00 price target on shares of Golden Entertainment in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.86.

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.