Golden Entertainment (NASDAQ:GDEN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Golden Entertainment, Inc. is a diverse gaming company which offers casino, distribute gaming and lottery services. The company’s gaming divisions consists of Golden Casino Group, PT’s Entertainment Group and Golden Route Operations. Golden Entertainment, Inc., formerly known as Lakes Entertainment, Inc., is based in Las Vegas, United States. “
Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Golden Entertainment from a “b” rating to a “c+” rating in a research note on Thursday, March 15th. Telsey Advisory Group started coverage on shares of Golden Entertainment in a research note on Tuesday, March 13th. They set an “outperform” rating and a $32.00 price target on the stock. BidaskClub cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Jefferies Group started coverage on shares of Golden Entertainment in a research note on Thursday, January 18th. They set a “buy” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.00.
Shares of Golden Entertainment (NASDAQ GDEN) traded down $0.93 on Tuesday, reaching $25.52. 889,356 shares of the company’s stock traded hands, compared to its average volume of 323,042. The company has a quick ratio of 1.52, a current ratio of 1.59 and a debt-to-equity ratio of 0.69. The firm has a market cap of $778.63, a PE ratio of 196.31 and a beta of 0.33. Golden Entertainment has a 12 month low of $12.77 and a 12 month high of $34.75.
In other news, Director Lyle Berman sold 750,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total transaction of $19,980,000.00. Following the transaction, the director now directly owns 1,642,841 shares of the company’s stock, valued at approximately $43,765,284.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,046,494 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total transaction of $107,798,600.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,750,000 shares of company stock worth $153,180,000. Corporate insiders own 52.00% of the company’s stock.
Several large investors have recently bought and sold shares of GDEN. Goldman Sachs Group Inc. acquired a new position in shares of Golden Entertainment during the 4th quarter worth $131,600,000. Renaissance Technologies LLC grew its stake in Golden Entertainment by 48.1% in the 4th quarter. Renaissance Technologies LLC now owns 475,397 shares of the company’s stock valued at $15,522,000 after acquiring an additional 154,397 shares during the last quarter. Millennium Management LLC acquired a new stake in Golden Entertainment in the 4th quarter valued at about $2,559,000. Allianz Asset Management GmbH acquired a new stake in Golden Entertainment in the 4th quarter valued at about $2,130,000. Finally, Vanguard Group Inc. grew its stake in Golden Entertainment by 19.5% in the 2nd quarter. Vanguard Group Inc. now owns 394,913 shares of the company’s stock valued at $8,179,000 after acquiring an additional 64,501 shares during the last quarter. 40.57% of the stock is currently owned by institutional investors and hedge funds.
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Golden Entertainment Company Profile
Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.
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