JMP Securities Cuts Golden Entertainment (NASDAQ:GDEN) Price Target to $35.00

Golden Entertainment (NASDAQ:GDEN) had its target price cut by JMP Securities from $36.00 to $35.00 in a report released on Monday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities analysts have also commented on the company. B. Riley lowered their target price on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Truist Financial lowered their target price on Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, August 9th. Macquarie reduced their price objective on Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Golden Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

Golden Entertainment Stock Up 3.8 %

NASDAQ:GDEN opened at $30.89 on Monday. The firm has a market capitalization of $894.23 million, a PE ratio of 3.33 and a beta of 2.23. The stock has a 50 day moving average of $31.08 and a 200-day moving average of $31.21. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $42.14. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72.

Golden Entertainment (NASDAQ:GDEN) last posted its 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 company had revenue of $167.33 million for the quarter, compared to the consensus estimate of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. Analysts predict that Golden Entertainment will post 0.18 EPS for the current year.

Golden Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.24%. Golden Entertainment’s dividend payout ratio is presently 10.79%.

Insiders Place Their Bets

In other Golden Entertainment news, Director Mark A. Lipparelli sold 773 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Golden Entertainment

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Golden Entertainment by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock worth $327,000 after purchasing an additional 355 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of Golden Entertainment by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock valued at $564,000 after acquiring an additional 524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Golden Entertainment by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $184,000 after acquiring an additional 892 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Golden Entertainment during the 2nd quarter valued at $34,000. Finally, nVerses Capital LLC acquired a new stake in shares of Golden Entertainment during the 2nd quarter valued at $37,000. 70.73% of the stock is currently owned by institutional investors and hedge funds.

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.