Proficio Capital Partners LLC Makes New $608,000 Investment in Golden Entertainment, Inc. (NASDAQ:GDEN)

Proficio Capital Partners LLC purchased a new position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,244 shares of the company’s stock, valued at approximately $608,000. Proficio Capital Partners LLC owned approximately 0.07% of Golden Entertainment as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its stake in Golden Entertainment by 26.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock worth $40,864,000 after purchasing an additional 271,782 shares in the last quarter. Geode Capital Management LLC lifted its stake in Golden Entertainment by 4.3% during the third quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock worth $18,664,000 after purchasing an additional 24,264 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Golden Entertainment by 5.4% during the fourth quarter. New York State Common Retirement Fund now owns 384,739 shares of the company’s stock worth $12,158,000 after purchasing an additional 19,587 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of Golden Entertainment by 24.5% in the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after acquiring an additional 69,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Golden Entertainment by 16.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock valued at $8,860,000 after purchasing an additional 38,385 shares during the period. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Terrence Wright sold 16,586 shares of the business’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 completion of the sale, the director now directly owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 29.10% of the company’s stock.

Golden Entertainment Trading Down 2.8 %

NASDAQ:GDEN opened at $28.68 on Monday. The stock has a 50-day simple moving average of $32.09 and a 200-day simple moving average of $31.90. The stock has a market cap of $760.34 million, a P/E ratio of 23.13 and a beta of 2.29. Golden Entertainment, Inc. has a 1 year low of $27.42 and a 1 year high of $36.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11.

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 3.49%. The ex-dividend date is Friday, March 21st. Golden Entertainment’s payout ratio is currently 59.88%.

Wall Street Analyst Weigh In

GDEN has been the subject of several analyst reports. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wells Fargo & Company initiated coverage on Golden Entertainment in a research note on Monday, December 16th. They set an “overweight” rating and a $38.00 target price for the company. Jefferies Financial Group boosted their target price on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $36.00 target price on shares of Golden Entertainment in a research note on Thursday, January 16th. Finally, Macquarie reissued an “outperform” rating and set a $40.00 target price on shares of Golden Entertainment in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.86.

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.