Golden Entertainment (NASDAQ:GDEN) Price Target Raised to $30.00

Golden Entertainment (NASDAQ:GDEN) had its price objective upped by equities researchers at Truist Financial from $25.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 2.46% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. JMP Securities dropped their price objective on Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating for the company in a research note on Tuesday, September 16th. Zacks Research raised Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Wells Fargo & Company restated a “sell” rating and set a $30.00 target price (down previously from $34.00) on shares of Golden Entertainment in a research report on Thursday. Citigroup reiterated an “outperform” rating on shares of Golden Entertainment in a research report on Tuesday, September 16th. Finally, Weiss Ratings upgraded shares of Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.60.

Golden Entertainment Stock Up 2.7%

Golden Entertainment stock traded up $0.76 during midday trading on Friday, hitting $29.28. 1,163,676 shares of the company’s stock were exchanged, compared to its average volume of 228,353. Golden Entertainment has a 12 month low of $19.57 and a 12 month high of $35.49. The firm has a 50-day moving average of $23.17 and a two-hundred day moving average of $26.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.12. The company has a market cap of $765.91 million, a PE ratio of 54.23 and a beta of 1.67.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. The company had revenue of $154.82 million for the quarter, compared to analyst estimates of $157.21 million. As a group, analysts expect that Golden Entertainment will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GDEN. Hill Path Capital LP raised its holdings in shares of Golden Entertainment by 477.8% in the 2nd quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after buying an additional 542,150 shares in the last quarter. Long Pond Capital LP acquired a new stake in Golden Entertainment in the first quarter valued at $11,474,000. 1060 Capital LLC lifted its holdings in Golden Entertainment by 328.6% during the 1st quarter. 1060 Capital LLC now owns 300,000 shares of the company’s stock valued at $7,917,000 after purchasing an additional 230,000 shares during the last quarter. Penn Capital Management Company LLC increased its position in Golden Entertainment by 29.3% during the 1st quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock worth $17,827,000 after buying an additional 152,805 shares during the period. Finally, Bernzott Capital Advisors grew its stake in Golden Entertainment by 55.2% during the third quarter. Bernzott Capital Advisors now owns 336,288 shares of the company’s stock worth $7,930,000 after buying an additional 119,606 shares in 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.