Golden Entertainment (NASDAQ:GDEN) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Golden Entertainment (NASDAQ:GDEN) in a report published on Thursday,Benzinga reports. The firm currently has a $36.00 price target on the stock.

Other analysts have also recently issued reports about the stock. B. Riley reduced their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price for the company. Macquarie lowered their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Truist Financial dropped 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. Finally, Jefferies Financial Group increased their target price on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Golden Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $36.57.

Golden Entertainment Stock Down 0.8 %

GDEN opened at $31.97 on Thursday. The firm has a market cap of $876.94 million, a P/E ratio of 25.78 and a beta of 2.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. The business has a 50 day moving average price of $32.54 and a 200 day moving average price of $31.32. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $40.55.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Insider Activity at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total value 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 trade represents a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

A number of hedge funds have recently made changes to their positions in GDEN. Geode Capital Management LLC increased its stake in Golden Entertainment by 4.3% in the third quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after acquiring an additional 24,264 shares during the period. Systematic Financial Management LP boosted its holdings in Golden Entertainment by 24.5% during the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after purchasing an additional 69,207 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Golden Entertainment by 16.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock valued at $8,860,000 after purchasing an additional 38,385 shares during the period. Bernzott Capital Advisors grew its stake in shares of Golden Entertainment by 7.9% in the 3rd quarter. Bernzott Capital Advisors now owns 247,632 shares of the company’s stock valued at $7,872,000 after purchasing an additional 18,233 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of Golden Entertainment by 1.2% in the 2nd quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock worth $5,320,000 after buying an additional 2,000 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.