Golden Entertainment, Inc. (NASDAQ:GDEN) Receives $36.86 Average PT from Brokerages

Golden Entertainment, Inc. (NASDAQ:GDEN) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $36.86.

GDEN has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Macquarie restated an “outperform” rating and set a $40.00 price target on shares of Golden Entertainment in a research report on Friday, February 28th. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a report on Monday, December 16th. They issued an “overweight” rating and a $38.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a research note on Thursday, January 16th. Finally, StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Golden Entertainment Stock Up 2.6 %

Golden Entertainment stock opened at $28.03 on Friday. The firm has a 50 day simple moving average of $31.16 and a 200 day simple moving average of $31.54. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. Golden Entertainment has a 1-year low of $25.17 and a 1-year high of $36.92. The firm has a market capitalization of $743.10 million, a price-to-earnings ratio of 22.60 and a beta of 2.29.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. Golden Entertainment’s dividend payout ratio (DPR) is currently 59.88%.

Institutional Trading of Golden Entertainment

A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new stake in Golden Entertainment during the 3rd quarter valued at $875,000. Empowered Funds LLC increased its position in shares of Golden Entertainment by 5.0% in the third quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after acquiring an additional 402 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Golden Entertainment by 16.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock valued at $8,860,000 after acquiring an additional 38,385 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Golden Entertainment by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after acquiring an additional 317 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Golden Entertainment by 1.9% during the third quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock worth $557,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 70.73% of the company’s stock.

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.