StockNews.com Downgrades Golden Entertainment (NASDAQ:GDEN) to Hold

Golden Entertainment (NASDAQ:GDEN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

GDEN has been the subject of several other research reports. Jefferies Financial Group raised 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 restated a “market outperform” rating and set a $36.00 price target on shares of Golden Entertainment in a research report on Thursday, January 16th. Wells Fargo & Company initiated coverage on Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 price target for the company. Finally, Macquarie restated an “outperform” rating and set a $40.00 price target on shares of Golden Entertainment in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Golden Entertainment presently has an average rating of “Moderate Buy” and an average target price of $36.86.

Golden Entertainment Price Performance

GDEN stock opened at $31.09 on Friday. The business has a fifty day moving average of $32.24 and a two-hundred day moving average of $31.89. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The stock has a market cap of $852.77 million, a price-to-earnings ratio of 25.07 and a beta of 2.21. Golden Entertainment has a 52-week low of $27.42 and a 52-week high of $37.30.

Insider Activity at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction on 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 transaction, the director now directly owns 61,616 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Golden Entertainment

A number of institutional investors have recently bought and sold shares of GDEN. Meeder Asset Management Inc. acquired a new position in shares of Golden Entertainment during the 3rd quarter worth about $42,000. Lazard Asset Management LLC boosted its position in shares of Golden Entertainment by 405.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,871 shares of the company’s stock worth $59,000 after acquiring an additional 1,501 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after acquiring an additional 317 shares in the last quarter. Two Sigma Securities LLC boosted its position in shares of Golden Entertainment by 10.9% during the 4th quarter. Two Sigma Securities LLC now owns 7,219 shares of the company’s stock worth $228,000 after acquiring an additional 709 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Golden Entertainment by 16.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,678 shares of the company’s stock worth $243,000 after acquiring an additional 1,085 shares in the last quarter. 70.73% of the stock is owned by hedge funds and other institutional investors.

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.