Brokerages Set Golden Entertainment, Inc. (NASDAQ:GDEN) PT at $34.20

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $34.20.

A number of brokerages recently issued reports on GDEN. JMP Securities decreased their price objective on shares of Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Tuesday, September 16th. Truist Financial lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating and cut their target price for the company from $36.00 to $34.00 in a research report on Wednesday, July 16th. Macquarie cut their target price on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Citigroup restated an “outperform” rating on shares of Golden Entertainment in a research report on Tuesday, September 16th. Finally, Weiss Ratings lowered shares of Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th.

Golden Entertainment Stock Performance

Shares of NASDAQ:GDEN opened at $21.44 on Wednesday. The company’s 50 day simple moving average is $24.45 and its 200 day simple moving average is $26.69. The stock has a market capitalization of $560.83 million, a price-to-earnings ratio of 39.70 and a beta of 1.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03. Golden Entertainment has a 1 year low of $21.33 and a 1 year high of $35.49.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $163.62 million for the quarter, compared to analysts’ expectations of $169.70 million. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. As a group, research analysts predict that Golden Entertainment will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th were given a $0.25 dividend. The ex-dividend date was Thursday, September 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.7%. Golden Entertainment’s dividend payout ratio (DPR) is currently 185.19%.

Institutional Trading of Golden Entertainment

A number of hedge funds have recently added to or reduced their stakes in GDEN. Raymond James Financial Inc. acquired a new stake in Golden Entertainment in the second quarter valued at approximately $27,000. Parallel Advisors LLC acquired a new position in shares of Golden Entertainment during the second quarter worth $35,000. Tower Research Capital LLC TRC lifted its holdings in shares of Golden Entertainment by 168.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $79,000 after purchasing an additional 1,680 shares during the period. Inscription Capital LLC acquired a new position in shares of Golden Entertainment during the first quarter worth $165,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Golden Entertainment by 1,136.9% during the first quarter. GAMMA Investing LLC now owns 6,729 shares of the company’s stock worth $178,000 after purchasing an additional 6,185 shares during the period. Institutional investors and hedge funds 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.