Golden Entertainment (NASDAQ:GDEN) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Golden Entertainment, Inc. (NASDAQ:GDEN)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $32.48 and traded as high as $33.11. Golden Entertainment shares last traded at $33.03, with a volume of 120,614 shares changing hands.

Analyst Upgrades and Downgrades

GDEN has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $36.00 price objective on shares of Golden Entertainment in a report on Thursday, January 16th. Macquarie reduced their target price on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Golden Entertainment Stock Performance

The company has a market cap of $906.01 million, a P/E ratio of 26.64 and a beta of 2.22. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $31.46.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. The firm had revenue of $161.23 million for the quarter, compared to analysts’ expectations of $162.22 million. Golden Entertainment had a net margin of 5.23% and a return on equity of 0.69%. During the same quarter in the prior year, the business earned ($0.02) EPS. On average, sell-side analysts anticipate that Golden Entertainment, Inc. will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders 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 dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, December 20th. Golden Entertainment’s payout ratio is 80.65%.

Insider Buying and Selling

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction dated 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 sale, the director now owns 61,616 shares in the company, valued at $1,926,116.16. This represents a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 29.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Golden Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Golden Entertainment in the third quarter worth $42,000. Quarry LP purchased a new stake in Golden Entertainment during the second quarter valued at $52,000. BNP Paribas Financial Markets lifted its holdings in shares of Golden Entertainment by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after acquiring an additional 317 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Golden Entertainment in the 2nd quarter worth approximately $143,000. Finally, XTX Topco Ltd purchased a new stake in Golden Entertainment in the 2nd quarter worth about $230,000. Institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company Profile

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.