Hsbc Holdings PLC Acquires New Holdings in Golden Entertainment, Inc. (NASDAQ:GDEN)

Hsbc Holdings PLC bought a new position in Golden Entertainment, Inc. (NASDAQ:GDEN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,409 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new position in shares of Golden Entertainment during the 2nd quarter worth approximately $34,000. nVerses Capital LLC acquired a new position in shares of Golden Entertainment during the second quarter worth $37,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Golden Entertainment during the 2nd quarter valued at $54,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Golden Entertainment in the 2nd quarter worth $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Golden Entertainment by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock worth $184,000 after buying an additional 892 shares during the last quarter. 70.73% of the stock is owned by hedge funds and other institutional investors.

Golden Entertainment Stock Performance

GDEN opened at $31.19 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. Golden Entertainment, Inc. has a 12-month low of $27.42 and a 12-month high of $42.14. The firm has a 50 day moving average of $31.13 and a two-hundred day moving average of $31.54. The firm has a market capitalization of $902.92 million, a PE ratio of 3.36 and a beta of 2.23.

Golden Entertainment (NASDAQ:GDEN) last issued its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. The business had revenue of $167.33 million for the quarter, compared to analysts’ expectations of $176.34 million. On average, analysts anticipate that Golden Entertainment, Inc. will post 0.23 EPS for the current year.

Golden Entertainment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.21%. Golden Entertainment’s dividend payout ratio (DPR) is presently 10.79%.

Insider Transactions at Golden Entertainment

In related news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total transaction of $25,756.36. Following the completion of the transaction, the director now directly owns 82,740 shares in the company, valued at approximately $2,756,896.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 29.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GDEN. JMP Securities decreased their price target on Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Macquarie decreased their price objective on shares of Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday. B. Riley dropped their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Truist Financial dropped their price objective 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

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.