Canada Pension Plan Investment Board Acquires New Position in Golden Entertainment, Inc. (NASDAQ:GDEN)

Canada Pension Plan Investment Board acquired a new stake in Golden Entertainment, Inc. (NASDAQ:GDEN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,600 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GDEN. Charles Schwab Investment Management Inc. raised its position in shares of Golden Entertainment by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 172,204 shares of the company’s stock valued at $6,876,000 after purchasing an additional 4,220 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Golden Entertainment in the 4th quarter valued at approximately $386,000. RK Capital Management LLC raised its position in shares of Golden Entertainment by 18.7% in the 4th quarter. RK Capital Management LLC now owns 210,100 shares of the company’s stock valued at $8,389,000 after purchasing an additional 33,100 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Golden Entertainment by 12.0% in the 4th quarter. Gabelli Funds LLC now owns 169,000 shares of the company’s stock valued at $6,748,000 after purchasing an additional 18,128 shares during the last quarter. Finally, Inscription Capital LLC purchased a new position in shares of Golden Entertainment in the 1st quarter valued at approximately $226,000. 70.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Golden Entertainment

In related news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the sale, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Macquarie cut their price target on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Truist Financial cut their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, August 9th. B. Riley cut their price target on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, JMP Securities cut their price target on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Golden Entertainment Price Performance

Shares of NASDAQ GDEN opened at $32.19 on Friday. The stock has a market capitalization of $931.87 million, a price-to-earnings ratio of 3.47 and a beta of 2.23. Golden Entertainment, Inc. has a 12 month low of $27.42 and a 12 month high of $42.14. The firm’s 50 day simple moving average is $31.15 and its 200-day simple moving average is $31.64. 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 issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 EPS 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 analyst estimates of $176.34 million. Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. Analysts expect that Golden Entertainment, Inc. will post 0.23 EPS for the current year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.11%. Golden Entertainment’s dividend payout ratio is currently 10.79%.

Golden Entertainment 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.