Golden Entertainment, Inc. (NASDAQ:GDEN) Stock Position Lowered by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,623 shares of the company’s stock after selling 1,475 shares during the quarter. Wellington Management Group LLP owned 0.37% of Golden Entertainment worth $3,262,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC boosted its position in shares of Golden Entertainment by 132.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after purchasing an additional 846,269 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Golden Entertainment by 78.2% during the second quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock worth $8,805,000 after buying an additional 124,218 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Golden Entertainment by 100.9% in the second quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock worth $5,089,000 after buying an additional 82,175 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in shares of Golden Entertainment by 43.0% in the second quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock valued at $7,743,000 after buying an additional 74,867 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Golden Entertainment during the 2nd quarter valued at $1,848,000. 70.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GDEN. B. Riley decreased their target price on 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 Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday. JMP Securities raised their target price on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. Truist Financial cut their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company started coverage on shares of Golden Entertainment in a research note on Monday. They issued an “overweight” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Golden Entertainment Stock Performance

Shares of GDEN opened at $33.06 on Wednesday. The company has a market capitalization of $906.80 million, a PE ratio of 26.66 and a beta of 2.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. The company’s 50 day moving average price is $31.91 and its 200 day moving average price is $31.12. Golden Entertainment, Inc. has a 52 week low of $27.42 and a 52 week high of $41.98.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Insider Transactions at Golden Entertainment

In other Golden Entertainment news, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the transaction, the director now owns 82,740 shares in the company, valued at $2,756,896.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 29.10% of the stock is currently owned by company insiders.

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.