Macquarie Reiterates “Outperform” Rating for Golden Entertainment (NASDAQ:GDEN)

Golden Entertainment (NASDAQ:GDEN)‘s stock had its “outperform” rating reaffirmed by research analysts at Macquarie in a report issued on Friday,Benzinga reports. They currently have a $40.00 price objective on the stock. Macquarie’s price target points to a potential upside of 28.66% from the company’s current price.

Several other brokerages have also recently issued reports on GDEN. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Golden Entertainment in a research report on Thursday, January 16th. Wells Fargo & Company began coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They issued an “overweight” rating and a $38.00 price target for the company. Jefferies Financial Group upped their price target on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, StockNews.com upgraded shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.86.

Golden Entertainment Price Performance

GDEN stock opened at $31.09 on Friday. The company has a 50 day simple moving average of $32.24 and a 200 day simple moving average of $31.89. The stock has a market cap of $852.77 million, a price-to-earnings ratio of 25.07 and a beta of 2.21. Golden Entertainment has a 1 year low of $27.42 and a 1 year high of $37.30. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03.

Insider Buying and Selling

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were 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 of the company’s stock, valued at approximately $1,926,116.16. This trade represents a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GDEN. Deprince Race & Zollo Inc. acquired a new position in shares of Golden Entertainment during the fourth quarter valued at about $17,704,000. DAVENPORT & Co LLC grew its holdings in shares of Golden Entertainment by 26.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock valued at $40,864,000 after buying an additional 271,782 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Golden Entertainment by 885.9% during the fourth quarter. Millennium Management LLC now owns 171,302 shares of the company’s stock valued at $5,413,000 after buying an additional 153,927 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Golden Entertainment by 61.8% during the fourth quarter. Russell Investments Group Ltd. now owns 190,033 shares of the company’s stock valued at $6,005,000 after buying an additional 72,588 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Golden Entertainment by 24.5% during the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after buying an additional 69,207 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

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.