B. Riley Lowers Golden Entertainment (NASDAQ:GDEN) Price Target to $40.00

Golden Entertainment (NASDAQ:GDEN) had its price objective lowered by investment analysts at B. Riley from $44.00 to $40.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 27.51% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. JMP Securities reduced their price target on 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. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Truist Financial dropped their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Macquarie decreased their price objective 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Golden Entertainment Price Performance

Shares of NASDAQ GDEN opened at $31.37 on Monday. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $42.14. The business’s 50 day moving average price is $31.05 and its 200 day moving average price is $31.68. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. The firm has a market cap of $908.13 million, a P/E ratio of 3.38 and a beta of 2.23.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. On average, sell-side analysts expect that Golden Entertainment will post 0.25 earnings per share for the current year.

Insider Buying and Selling 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 value of $25,756.36. Following the completion of the sale, the director now directly owns 82,740 shares in the company, valued at $2,756,896.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is currently owned by insiders.

Institutional Trading of Golden Entertainment

Several large investors have recently bought and sold shares of GDEN. Quarry LP acquired a new stake in shares of Golden Entertainment in the second quarter valued at approximately $52,000. Systematic Financial Management LP raised its stake 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 purchasing an additional 124,218 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Golden Entertainment by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after purchasing an additional 355 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Golden Entertainment by 274.1% in the 2nd quarter. AQR Capital Management LLC now owns 61,182 shares of the company’s stock valued at $1,903,000 after buying an additional 44,827 shares during the period. Finally, III Capital Management acquired a new stake in shares of Golden Entertainment during the 2nd quarter worth approximately $622,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company 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.