Golden Entertainment (NASDAQ:GDEN) Price Target Cut to $40.00

Golden Entertainment (NASDAQ:GDEN) had its price target dropped by B. Riley from $44.00 to $40.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 27.71% from the stock’s current price. B. Riley also issued estimates for Golden Entertainment’s Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.30 EPS.

Several other research analysts have also weighed in on GDEN. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Macquarie cut their price objective on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Truist Financial cut their price objective on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, JMP Securities cut their price objective on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.20.

Golden Entertainment Price Performance

Shares of NASDAQ GDEN opened at $31.32 on Monday. The stock has a market cap of $906.68 million, a price-to-earnings ratio of 3.38 and a beta of 2.23. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $42.14. The company’s 50-day moving average price is $31.08 and its 200 day moving average price is $31.65. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The firm had revenue of $167.33 million during the quarter, compared to analysts’ expectations of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. As a group, research analysts forecast that Golden Entertainment will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $33.32, for a total transaction of $25,756.36. Following the completion of the sale, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Golden Entertainment

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Golden Entertainment by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,588,940 shares of the company’s stock valued at $58,521,000 after acquiring an additional 14,957 shares in the last quarter. William Blair Investment Management LLC grew its position in Golden Entertainment by 132.1% in the second quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after acquiring an additional 846,269 shares in the last quarter. Principal Financial Group Inc. grew its position in Golden Entertainment by 0.9% in the first quarter. Principal Financial Group Inc. now owns 620,654 shares of the company’s stock valued at $22,859,000 after acquiring an additional 5,446 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Golden Entertainment by 2.2% in the first quarter. Gamco Investors INC. ET AL now owns 600,266 shares of the company’s stock valued at $22,108,000 after acquiring an additional 13,100 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Golden Entertainment by 31.4% in the first quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock valued at $20,073,000 after acquiring an additional 130,204 shares in the last quarter. 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.