The Manufacturers Life Insurance Company Grows Position in Golden Entertainment, Inc. (NASDAQ:GDEN)

The Manufacturers Life Insurance Company increased its position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,499 shares of the company’s stock after buying an additional 355 shares during the period. The Manufacturers Life Insurance Company’s holdings in Golden Entertainment were worth $327,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GDEN. Inscription Capital LLC purchased a new stake in shares of Golden Entertainment during the first quarter worth approximately $226,000. Principal Financial Group Inc. increased its stake in Golden Entertainment by 0.9% in the first quarter. Principal Financial Group Inc. now owns 620,654 shares of the company’s stock valued at $22,859,000 after purchasing an additional 5,446 shares during the last quarter. Jennison Associates LLC increased its stake in Golden Entertainment by 31.4% in the first quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock valued at $20,073,000 after purchasing an additional 130,204 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Golden Entertainment by 15.4% in the first quarter. Illinois Municipal Retirement Fund now owns 14,212 shares of the company’s stock valued at $523,000 after purchasing an additional 1,896 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in Golden Entertainment by 21.1% in the first quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock valued at $23,587,000 after purchasing an additional 111,701 shares during the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total transaction of $25,756.36. Following the completion of the sale, the director now directly owns 82,740 shares of the company’s stock, valued at $2,756,896.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 29.10% of the company’s stock.

Golden Entertainment Price Performance

GDEN stock opened at $31.24 on Friday. The company has a market capitalization of $904.37 million, a P/E ratio of 3.37 and a beta of 2.23. Golden Entertainment, Inc. has a twelve month low of $27.42 and a twelve month high of $42.14. The business has a 50 day simple moving average of $31.14 and a 200-day simple moving average of $31.21. 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 issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. The company had revenue of $167.33 million for the quarter, compared to analyst estimates of $176.34 million. As a group, equities analysts anticipate that Golden Entertainment, Inc. will post 0.18 EPS for the current year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, September 17th. Golden Entertainment’s dividend payout ratio is presently 10.79%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Macquarie dropped their price target on shares of Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. B. Riley dropped their price target on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. 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 note on Friday, August 9th. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, JMP Securities decreased their price objective on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.60.

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.