Truist Financial Cuts Golden Entertainment (NASDAQ:GDEN) Price Target to $36.00

Golden Entertainment (NASDAQ:GDEN) had its price target decreased by Truist Financial from $38.00 to $36.00 in a research report report published on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts also recently commented on GDEN. Macquarie decreased their price objective on shares of Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. B. Riley decreased 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. JMP Securities dropped their price objective on 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. Finally, StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Golden Entertainment Stock Performance

Shares of GDEN opened at $30.48 on Wednesday. The business has a 50-day simple moving average of $31.24 and a two-hundred day simple moving average of $30.97. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $42.14. The stock has a market cap of $863.19 million, a price-to-earnings ratio of 3.43 and a beta of 2.23.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $176.34 million. On average, analysts expect that Golden Entertainment will post 0.14 EPS for the current year.

Golden Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid 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 currently 11.25%.

Insider Activity

In related news, Director Mark A. Lipparelli sold 773 shares of the business’s 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 transaction, the director now owns 82,740 shares in the company, valued at $2,756,896.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of 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 period. Jennison Associates LLC grew its position 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 buying an additional 130,204 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Golden Entertainment by 15.4% during the first quarter. Illinois Municipal Retirement Fund now owns 14,212 shares of the company’s stock valued at $523,000 after buying an additional 1,896 shares during the period. William Blair Investment Management LLC raised its holdings in shares of 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 acquiring an additional 111,701 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Golden Entertainment by 25.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 7,254 shares of the company’s stock worth $267,000 after acquiring an additional 1,480 shares during the period. 70.73% of the stock is currently 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.