Golden Entertainment (NASDAQ:GDEN) Sees Large Volume Increase

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) saw strong trading volume on Thursday . 333,844 shares changed hands during mid-day trading, an increase of 84% from the previous session’s volume of 181,388 shares.The stock last traded at $28.74 and had previously closed at $28.75.

Analysts Set New Price Targets

GDEN has been the topic of a number of research reports. StockNews.com raised Golden Entertainment from a “hold” rating to a “buy” rating in a report on Friday, May 10th. JMP Securities reduced their price objective on Golden Entertainment from $48.00 to $45.00 and set a “market outperform” rating for the company in a research report on Friday, March 1st. B. Riley assumed coverage on Golden Entertainment in a research note on Friday, April 26th. They issued a “buy” rating and a $46.00 price objective for the company. Truist Financial decreased their price objective on Golden Entertainment from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Golden Entertainment from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $42.75.

Golden Entertainment Trading Up 1.1 %

The firm has a market cap of $831.15 million, a price-to-earnings ratio of 3.10 and a beta of 2.26. The business’s 50 day moving average price is $33.33 and its 200-day moving average price is $36.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 2.33 and a current ratio of 2.36.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, February 29th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company had revenue of $230.69 million during the quarter, compared to analysts’ expectations of $228.75 million. Golden Entertainment had a return on equity of 1.13% and a net margin of 30.14%. Equities analysts expect that Golden Entertainment, Inc. will post 0.5 EPS for the current year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Friday, June 14th. Golden Entertainment’s payout ratio is currently 10.79%.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Golden Entertainment by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,588,940 shares of the company’s stock worth $58,521,000 after purchasing an additional 14,957 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Golden Entertainment in the 3rd quarter worth approximately $35,680,000. William Blair Investment Management LLC raised its holdings in Golden Entertainment by 21.1% during the 1st quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock valued at $23,587,000 after buying an additional 111,701 shares during the period. Principal Financial Group Inc. increased its stake in Golden Entertainment by 0.9% in the first quarter. Principal Financial Group Inc. now owns 620,654 shares of the company’s stock worth $22,859,000 after purchasing an additional 5,446 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in Golden Entertainment by 156.8% during the third quarter. Gamco Investors INC. ET AL now owns 609,050 shares of the company’s stock valued at $20,817,000 after purchasing an additional 371,850 shares in the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

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.