Principal Financial Group Inc. Sells 6,910 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN)

Principal Financial Group Inc. lessened its stake in Golden Entertainment, Inc. (NASDAQ:GDEN) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,041 shares of the company’s stock after selling 6,910 shares during the period. Principal Financial Group Inc.’s holdings in Golden Entertainment were worth $3,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Golden Entertainment in the 2nd quarter worth approximately $34,000. nVerses Capital LLC acquired a new position in shares of Golden Entertainment during the second quarter valued at about $37,000. Quarry LP bought a new stake in shares of Golden Entertainment during the second quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC bought a new stake in Golden Entertainment during the 2nd quarter valued at $54,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Golden Entertainment during the second quarter worth $89,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

Insider Transactions at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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 of the company’s stock, valued at $2,756,896.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 29.10% of the company’s stock.

Golden Entertainment Trading Down 1.6 %

GDEN opened at $33.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. Golden Entertainment, Inc. has a 52 week low of $27.42 and a 52 week high of $42.14. The stock has a market cap of $919.15 million, a PE ratio of 27.02 and a beta of 2.24. The business has a 50 day moving average of $31.27 and a 200-day moving average of $30.71.

Golden Entertainment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.98%. Golden Entertainment’s payout ratio is 80.65%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GDEN. Truist Financial dropped their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. B. Riley lowered their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. JMP Securities dropped their price target on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, October 14th. Finally, Macquarie decreased their target price on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.