Golden Entertainment, Inc. (NASDAQ:GDEN) Director Terrence Wright Sells 16,586 Shares of Stock

Golden Entertainment, Inc. (NASDAQ:GDEN) Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.26, for a total transaction of $518,478.36. Following the completion of the transaction, the director now directly owns 61,616 shares of the company’s stock, valued at $1,926,116.16. This represents a 21.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Golden Entertainment Stock Performance

Shares of GDEN opened at $31.12 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. Golden Entertainment, Inc. has a 52-week low of $27.42 and a 52-week high of $40.85. The stock has a 50 day moving average price of $32.06 and a 200 day moving average price of $31.15. The company has a market capitalization of $853.59 million, a price-to-earnings ratio of 25.10 and a beta of 2.22.

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is 80.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GDEN shares. Truist Financial reduced their price objective on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. B. Riley decreased their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. JMP Securities upped their target price on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research note on Monday, November 25th. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Macquarie lowered their price target on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.33.

Institutional Investors Weigh In On Golden Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in Golden Entertainment by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after buying an additional 317 shares during the period. HighTower Advisors LLC lifted its position in Golden Entertainment by 1.9% during the 3rd quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock worth $557,000 after acquiring an additional 333 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Golden Entertainment by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after purchasing an additional 355 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Golden Entertainment by 5.0% in the third quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after purchasing an additional 402 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Golden Entertainment by 6.4% during the third quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock worth $262,000 after purchasing an additional 494 shares during the last quarter. 70.73% of the stock is owned by hedge funds and other institutional investors.

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.