Golden Entertainment (NASDAQ:GDEN) Cut to Hold at StockNews.com

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

Other analysts also recently issued research reports about the stock. B. Riley assumed coverage on shares of Golden Entertainment in a research report on Friday, April 26th. They set a buy rating and a $46.00 target price for the company. JMP Securities dropped their price objective on shares of Golden Entertainment from $42.00 to $39.00 and set a market outperform rating for the company in a research report on Wednesday, July 17th. Truist Financial cut their target price on shares of Golden Entertainment from $43.00 to $40.00 and set a buy rating on the stock in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Golden Entertainment from $42.00 to $36.00 and set a buy rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $40.25.

Golden Entertainment Trading Up 3.6 %

GDEN stock opened at $32.76 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.36 and a debt-to-equity ratio of 1.16. The company has a market cap of $948.40 million, a price-to-earnings ratio of 3.53 and a beta of 2.23. The business has a fifty day simple moving average of $29.96 and a 200-day simple moving average of $33.57. Golden Entertainment has a 52 week low of $28.20 and a 52 week high of $47.49.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). The firm had revenue of $174.05 million for the quarter, compared to analysts’ expectations of $168.72 million. Golden Entertainment had a net margin of 30.14% and a return on equity of 1.13%. On average, equities research analysts expect that Golden Entertainment will post 0.5 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. Golden Entertainment’s dividend payout ratio is currently 10.79%.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Golden Entertainment during the second quarter valued at about $54,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Golden Entertainment in the first quarter worth about $214,000. Inscription Capital LLC purchased a new position in Golden Entertainment in the first quarter valued at about $226,000. New York State Teachers Retirement System grew its stake in Golden Entertainment by 6.7% during the 1st quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock valued at $231,000 after purchasing an additional 394 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Golden Entertainment during the 2nd quarter worth approximately $263,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company Profile

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.