Golden Entertainment (NASDAQ:GDEN) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Golden Entertainment (NASDAQ:GDEN) from a buy rating to a hold rating in a research note released on Tuesday morning.

Several other brokerages have also recently weighed in on GDEN. Macquarie dropped their price objective on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. B. Riley reduced their target price on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Truist Financial decreased their price objective 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. Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research report on Monday. They set an “overweight” rating and a $38.00 price target on the stock. Finally, JMP Securities raised their price objective on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

Golden Entertainment Price Performance

Golden Entertainment stock opened at $33.06 on Tuesday. The company has a market capitalization of $906.80 million, a PE ratio of 26.66 and a beta of 2.22. Golden Entertainment has a one year low of $27.42 and a one year high of $41.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. The business has a 50 day simple moving average of $31.91 and a 200 day simple moving average of $31.12.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s dividend payout ratio is presently 80.65%.

Insider Transactions at Golden Entertainment

In related news, Director Mark A. Lipparelli sold 773 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in Golden Entertainment by 84.7% in the 3rd quarter. Barclays PLC now owns 48,918 shares of the company’s stock valued at $1,556,000 after purchasing an additional 22,440 shares during the period. Geode Capital Management LLC lifted its stake in shares of Golden Entertainment by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after acquiring an additional 24,264 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Golden Entertainment by 29.1% during the third quarter. MML Investors Services LLC now owns 63,449 shares of the company’s stock worth $2,017,000 after purchasing an additional 14,293 shares during the last quarter. Jane Street Group LLC boosted its position in Golden Entertainment by 5.2% during the 3rd quarter. Jane Street Group LLC now owns 35,033 shares of the company’s stock worth $1,114,000 after buying an additional 1,740 shares during the period. Finally, Systematic Financial Management LP increased its position in Golden Entertainment by 24.5% in the 3rd quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after acquiring an additional 69,207 shares during the period. 70.73% of the stock is owned by institutional investors.

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.