Golden Entertainment, Inc. (NASDAQ:GDEN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Golden Entertainment, Inc. (NASDAQ:GDEN) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $36.57.

A number of brokerages have weighed in on GDEN. Wells Fargo & Company began coverage on Golden Entertainment in a research report on Monday, December 16th. They issued an “overweight” rating and a $38.00 price target on the stock. Truist Financial lowered their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities upped their price target on Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a research report on Monday, November 25th. Macquarie lowered their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, B. Riley lowered their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd.

Golden Entertainment Stock Performance

Shares of NASDAQ GDEN opened at $31.15 on Monday. The business has a fifty day simple moving average of $32.37 and a 200 day simple moving average of $31.28. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $854.41 million, a price-to-earnings ratio of 25.12 and a beta of 2.22. Golden Entertainment has a one year low of $27.42 and a one year high of $40.55.

Golden Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, December 20th. Golden Entertainment’s payout ratio is presently 80.65%.

Insider Transactions at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction dated 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 owns 61,616 shares in the company, valued at $1,926,116.16. This trade represents a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds have recently added to or reduced their stakes in GDEN. Meeder Asset Management Inc. bought a new position in Golden Entertainment in the third quarter valued at about $42,000. Quarry LP bought a new position in Golden Entertainment in the second quarter valued at about $52,000. Allspring Global Investments Holdings LLC bought a new position in Golden Entertainment in the second quarter valued at about $54,000. Ashton Thomas Private Wealth LLC bought a new position in Golden Entertainment in the second quarter valued at about $89,000. Finally, Canada Pension Plan Investment Board bought a new position in Golden Entertainment in the second quarter valued at about $143,000. Institutional investors own 70.73% of the company’s stock.

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.