Short Interest in Golden Entertainment, Inc. (NASDAQ:GDEN) Increases By 27.4%

Golden Entertainment, Inc. (NASDAQ:GDEN) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 461,800 shares, an increase of 27.4% from the May 31st total of 362,400 shares. Based on an average trading volume of 265,700 shares, the short-interest ratio is presently 1.7 days. Currently, 2.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. B. Riley assumed coverage on shares of Golden Entertainment in a research note on Friday, April 26th. They set a “buy” rating and a $46.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Golden Entertainment from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Truist Financial decreased their target price on shares of Golden Entertainment from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.75.

Golden Entertainment Trading Down 3.7 %

Shares of GDEN opened at $29.95 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.36 and a quick ratio of 2.33. Golden Entertainment has a 1 year low of $28.20 and a 1 year high of $47.49. The company has a 50 day simple moving average of $30.64 and a two-hundred day simple moving average of $34.84. The firm has a market cap of $867.05 million, a P/E ratio of 3.23 and a beta of 2.23.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). Golden Entertainment had a net margin of 30.14% and a return on equity of 1.13%. The company had revenue of $174.05 million for the quarter, compared to analysts’ expectations of $168.72 million. On average, equities analysts expect that Golden Entertainment will post 0.5 earnings per share for the current fiscal year.

Golden Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, June 14th. Golden Entertainment’s dividend payout ratio (DPR) is presently 10.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GDEN. Price T Rowe Associates Inc. MD purchased a new position in shares of Golden Entertainment in the first quarter valued at $214,000. Inscription Capital LLC purchased a new position in shares of Golden Entertainment in the first quarter valued at $226,000. New York State Teachers Retirement System grew its holdings in shares of Golden Entertainment by 6.7% in the first quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock valued at $231,000 after purchasing an additional 394 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Golden Entertainment by 25.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 7,254 shares of the company’s stock valued at $267,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Golden Entertainment in the fourth quarter valued at $386,000. 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.