Golden Entertainment, Inc. (NASDAQ:GDEN) Receives Average Rating of “Buy” from Brokerages

Golden Entertainment, Inc. (NASDAQ:GDEN) has been given a consensus rating of “Buy” by the five brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $37.20.

Several research analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. B. Riley lowered their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Macquarie lowered their target price on shares of Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, JMP Securities cut their target price on shares of Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, October 14th.

Golden Entertainment Trading Up 0.9 %

NASDAQ:GDEN opened at $30.48 on Wednesday. The firm has a market capitalization of $863.19 million, a P/E ratio of 3.43 and a beta of 2.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. Golden Entertainment has a one year low of $27.42 and a one year high of $42.14. The company’s 50-day simple moving average is $31.24 and its 200 day simple moving average is $30.91.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data 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 net margin of 33.07% and a negative return on equity of 0.33%. The company had revenue of $167.33 million for the quarter, compared to analysts’ expectations of $176.34 million. As a group, analysts forecast that Golden Entertainment will post 0.14 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Tuesday, September 17th. Golden Entertainment’s payout ratio is presently 11.25%.

Insiders Place Their Bets

In other news, Director Mark A. Lipparelli sold 773 shares of the business’s 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 completion of the sale, the director now owns 82,740 shares of the company’s stock, valued at $2,756,896.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings in shares of Golden Entertainment by 132.1% during the second quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock worth $46,251,000 after buying an additional 846,269 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Golden Entertainment by 2,745.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 183,156 shares of the company’s stock worth $5,698,000 after purchasing an additional 176,720 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Golden Entertainment by 31.4% during the 1st quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock worth $20,073,000 after purchasing an additional 130,204 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Golden Entertainment by 78.2% in the second quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock valued at $8,805,000 after purchasing an additional 124,218 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Golden Entertainment by 100.9% during the second quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock worth $5,089,000 after buying an additional 82,175 shares in the last quarter. 70.73% of the stock is 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.