Golden Entertainment, Inc. (NASDAQ:GDEN) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Golden Entertainment, Inc. (NASDAQ:GDEN) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 52,360 shares of the company’s stock after acquiring an additional 4,379 shares during the period. Rhumbline Advisers owned 0.18% of Golden Entertainment worth $1,629,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GDEN. Innealta Capital LLC purchased a new stake in Golden Entertainment in the second quarter valued at approximately $34,000. nVerses Capital LLC acquired a new position in Golden Entertainment in the second quarter valued at $37,000. Allspring Global Investments Holdings LLC purchased a new stake in Golden Entertainment during the second quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Golden Entertainment by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock worth $184,000 after acquiring an additional 892 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Golden Entertainment in the 1st quarter worth about $214,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Stock Performance

Shares of GDEN stock opened at $31.37 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. The company’s fifty day moving average price is $31.05 and its two-hundred day moving average price is $31.70. The firm has a market capitalization of $908.13 million, a P/E ratio of 3.38 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.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). The business had revenue of $167.33 million during 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%. On average, research analysts anticipate that Golden Entertainment, Inc. will post 0.25 earnings per share for the current fiscal 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 dividend yield of 3.19%. Golden Entertainment’s dividend payout ratio (DPR) is presently 10.79%.

Insider Activity at Golden Entertainment

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GDEN shares. Truist Financial dropped their target price on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JMP Securities dropped their price objective on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Macquarie decreased their price target on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

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.