Golden Entertainment, Inc. (NASDAQ:GDEN) Director Sells $518,478.36 in Stock

Golden Entertainment, Inc. (NASDAQ:GDEN) Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.26, for a total value of $518,478.36. Following the transaction, the director now directly owns 61,616 shares in the company, valued at approximately $1,926,116.16. This trade represents a 21.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Golden Entertainment Price Performance

Shares of Golden Entertainment stock opened at $31.12 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $853.59 million, a price-to-earnings ratio of 25.10 and a beta of 2.22. Golden Entertainment, Inc. has a twelve month low of $27.42 and a twelve month high of $40.85. The company has a 50-day simple moving average of $32.06 and a two-hundred day simple moving average of $31.16.

Golden Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. Golden Entertainment’s payout ratio is 80.65%.

Analysts Set New Price Targets

Several brokerages have recently commented on GDEN. B. Riley reduced their target price on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Macquarie decreased their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial lowered their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, JMP Securities boosted their price objective on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.33.

Institutional Investors Weigh In On Golden Entertainment

A number of large investors have recently added to or reduced their stakes in GDEN. William Blair Investment Management LLC raised its holdings in Golden Entertainment by 132.1% in the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after acquiring an additional 846,269 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Golden Entertainment by 4.3% in the third quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock worth $18,664,000 after purchasing an additional 24,264 shares during the period. Systematic Financial Management LP raised its stake in Golden Entertainment by 24.5% in the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after purchasing an additional 69,207 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Golden Entertainment by 16.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock worth $8,860,000 after purchasing an additional 38,385 shares during the period. Finally, Peregrine Capital Management LLC grew its stake in Golden Entertainment by 43.0% during the second 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 in the last quarter. Institutional investors and hedge funds 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.