Golden Entertainment, Inc. (NASDAQ:GDEN) Short Interest Up 20.9% in November

Golden Entertainment, Inc. (NASDAQ:GDEN) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 883,500 shares, an increase of 20.9% from the November 15th total of 730,700 shares. Based on an average daily volume of 226,300 shares, the days-to-cover ratio is currently 3.9 days. Approximately 4.4% of the company’s shares are short sold.

Insider Buying and Selling

In other Golden Entertainment news, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the transaction, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Golden Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its holdings in shares of Golden Entertainment by 132.1% in the second quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after purchasing an additional 846,269 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Golden Entertainment by 2,745.8% in the second quarter. Assenagon Asset Management S.A. now owns 183,156 shares of the company’s stock valued at $5,698,000 after purchasing an additional 176,720 shares in the last quarter. Systematic Financial Management LP increased its stake in Golden Entertainment by 78.2% in the 2nd quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock valued at $8,805,000 after buying an additional 124,218 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Golden Entertainment by 100.9% during the 2nd 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. Finally, Peregrine Capital Management LLC boosted its stake in shares of Golden Entertainment by 43.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock worth $7,743,000 after buying an additional 74,867 shares during the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Stock Up 0.6 %

Golden Entertainment stock opened at $33.19 on Monday. The company has a 50 day moving average of $31.86 and a 200-day moving average of $31.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $42.14. The stock has a market capitalization of $910.40 million, a PE ratio of 26.76 and a beta of 2.22.

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s payout ratio is presently 80.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JMP Securities increased their price target on shares of Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a research report on Monday, November 25th. B. Riley cut their target price on shares of 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 raised shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Truist Financial lowered their price objective on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Macquarie reduced their target price on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $37.20.

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.