Golden Entertainment, Inc. (NASDAQ:GDEN) Stock Position Raised by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in Golden Entertainment, Inc. (NASDAQ:GDEN) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,580 shares of the company’s stock after acquiring an additional 333 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Golden Entertainment worth $557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets boosted its position in Golden Entertainment by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after purchasing an additional 317 shares during the period. Charles Schwab Investment Management Inc. increased its position in Golden Entertainment by 16.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock worth $8,860,000 after buying an additional 38,385 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Golden Entertainment in the third quarter valued at approximately $42,000. Accredited Investors Inc. acquired a new position in Golden Entertainment during the 3rd quarter valued at $374,000. Finally, Empowered Funds LLC boosted its holdings in Golden Entertainment by 5.0% in the 3rd 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 period. Institutional investors and hedge funds own 70.73% of the company’s stock.

Insider Transactions at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction 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. This represents a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 29.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GDEN. JMP Securities boosted their price target 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. Wells Fargo & Company assumed coverage on Golden Entertainment in a report on Monday, December 16th. They set an “overweight” rating and a $38.00 price objective on the stock. Macquarie lowered their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. 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, StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Golden Entertainment Trading Up 0.2 %

NASDAQ:GDEN opened at $31.12 on Friday. The firm has a market capitalization of $853.59 million, a price-to-earnings ratio of 25.10 and a beta of 2.22. Golden Entertainment, Inc. has a 1-year low of $27.42 and a 1-year high of $40.85. The business’s 50-day moving average price is $32.06 and its two-hundred day moving average price is $31.15. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s payout ratio is presently 80.65%.

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.