Golden Entertainment, Inc. (NASDAQ:GDEN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) have been given a consensus recommendation of “Buy” by the five research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $37.60.

A number of brokerages have recently weighed in on GDEN. B. Riley lowered their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Truist Financial lowered their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Macquarie cut their price target on shares of Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. JMP Securities decreased their price objective on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a report on Monday, October 14th. Finally, StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th.

Insider Activity

In related news, Director Mark A. Lipparelli sold 773 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the sale, the director now directly owns 82,740 shares of the company’s stock, valued at $2,756,896.80. This trade represents 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 this link. Insiders own 29.10% of the company’s stock.

Institutional Trading of Golden Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in Golden Entertainment by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock worth $327,000 after purchasing an additional 355 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Golden Entertainment by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock worth $564,000 after buying an additional 524 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Golden Entertainment by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock worth $184,000 after buying an additional 892 shares in the last quarter. Innealta Capital LLC purchased a new stake in Golden Entertainment in the second quarter worth about $34,000. Finally, nVerses Capital LLC bought a new stake in Golden Entertainment during the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Price Performance

GDEN stock opened at $30.41 on Wednesday. Golden Entertainment has a one year low of $27.42 and a one year high of $42.14. The firm has a 50 day simple moving average of $31.22 and a two-hundred day simple moving average of $31.02. The stock has a market cap of $880.34 million, a PE ratio of 3.28 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.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The firm had revenue of $167.33 million for the quarter, compared to analysts’ expectations of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. On average, analysts predict that Golden Entertainment will post 0.18 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Tuesday, September 17th. Golden Entertainment’s payout ratio is 10.79%.

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.