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

Golden Entertainment (NASDAQ:GDEN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities analysts have also issued research reports about the stock. Truist Financial reduced their price objective on shares of Golden Entertainment from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Golden Entertainment from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, May 9th. B. Riley assumed coverage on shares of Golden Entertainment in a research report on Friday, April 26th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, JMP Securities dropped their target price on shares of Golden Entertainment from $48.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Friday, March 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Golden Entertainment has an average rating of “Moderate Buy” and an average price target of $42.75.

Golden Entertainment Stock Performance

NASDAQ:GDEN opened at $30.59 on Thursday. Golden Entertainment has a twelve month low of $28.20 and a twelve month high of $47.49. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt-to-equity ratio of 1.16. The company has a 50-day moving average of $31.07 and a 200-day moving average of $35.27. The firm has a market cap of $885.55 million, a price-to-earnings ratio of 3.30 and a beta of 2.21.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.50). Golden Entertainment had a net margin of 30.14% and a return on equity of 1.13%. The business had revenue of $174.05 million for the quarter, compared to the consensus estimate of $168.72 million. Analysts forecast that Golden Entertainment will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its position in Golden Entertainment by 6.5% during the fourth quarter. Jennison Associates LLC now owns 414,810 shares of the company’s stock valued at $16,563,000 after purchasing an additional 25,355 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Golden Entertainment during the fourth quarter valued at approximately $973,000. Swiss National Bank grew its position in Golden Entertainment by 1.1% during the third quarter. Swiss National Bank now owns 47,600 shares of the company’s stock valued at $1,627,000 after purchasing an additional 500 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Golden Entertainment by 83.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 251,299 shares of the company’s stock valued at $10,034,000 after purchasing an additional 114,454 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Golden Entertainment by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,556,412 shares of the company’s stock valued at $53,198,000 after purchasing an additional 3,988 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.