Golden Entertainment (NASDAQ:GDEN) Rating Lowered to Hold at Citizens Jmp

Golden Entertainment (NASDAQ:GDEN) was downgraded by stock analysts at Citizens Jmp from a “market outperform” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

Several other equities analysts also recently issued reports on GDEN. Truist Financial cut their price objective on shares of Golden Entertainment from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Tuesday, October 21st. Citigroup reissued an “outperform” rating on shares of Golden Entertainment in a research report on Tuesday, September 16th. 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. Wells Fargo & Company reaffirmed a “sell” rating and issued a $30.00 price target (down previously from $34.00) on shares of Golden Entertainment in a report on Thursday. Finally, Zacks Research upgraded shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Golden Entertainment presently has an average rating of “Hold” and an average price target of $32.60.

Golden Entertainment Stock Performance

Shares of GDEN opened at $29.23 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.95. The firm has a market cap of $764.60 million, a PE ratio of 54.13 and a beta of 1.67. Golden Entertainment has a 12 month low of $19.57 and a 12 month high of $35.49. The stock has a fifty day moving average price of $23.26 and a 200-day moving average price of $26.24.

Golden Entertainment (NASDAQ:GDEN) last announced its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.10). Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%.The business had revenue of $154.82 million for the quarter, compared to analysts’ expectations of $157.21 million. Equities research analysts predict that Golden Entertainment will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Golden Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Golden Entertainment during the second quarter worth about $27,000. Parallel Advisors LLC acquired a new stake in shares of Golden Entertainment in the second quarter valued at about $35,000. Tower Research Capital LLC TRC lifted its position in shares of Golden Entertainment by 168.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after acquiring an additional 1,680 shares in the last quarter. Creative Planning acquired a new stake in shares of Golden Entertainment in the second quarter valued at about $201,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Golden Entertainment in the second quarter valued at approximately $210,000. 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.