Golden Entertainment (NASDAQ:GDEN) PT Lowered to $36.00 at Truist Financial

Golden Entertainment (NASDAQ:GDEN) had its target price lowered by Truist Financial from $38.00 to $36.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

GDEN has been the subject of a number of other research reports. B. Riley reduced their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Macquarie lowered their price target on Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, JMP Securities dropped their price target on shares of Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.20.

Golden Entertainment Price Performance

NASDAQ GDEN opened at $30.48 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $863.19 million, a PE ratio of 3.43 and a beta of 2.23. Golden Entertainment has a 12-month low of $27.42 and a 12-month high of $42.14. The company has a 50 day moving average price of $31.24 and a two-hundred day moving average price of $30.94.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The business had revenue of $167.33 million for the quarter, compared to the consensus estimate 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, equities analysts predict that Golden Entertainment will post 0.14 earnings per share for the current fiscal year.

Golden Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Tuesday, September 17th. Golden Entertainment’s dividend payout ratio (DPR) is currently 11.25%.

Insider Transactions at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the sale, the director now owns 82,740 shares in the company, valued at approximately $2,756,896.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

Several hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC raised its holdings in Golden Entertainment by 31.4% in the 1st 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. William Blair Investment Management LLC increased its position in shares of Golden Entertainment by 21.1% during the first quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock valued at $23,587,000 after purchasing an additional 111,701 shares during the period. Systematic Financial Management LP raised its stake in shares of Golden Entertainment by 78.2% in the second quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock valued at $8,805,000 after purchasing an additional 124,218 shares in the last quarter. Peregrine Capital Management LLC lifted its position in Golden Entertainment by 43.0% in the second quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock worth $7,743,000 after purchasing an additional 74,867 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Golden Entertainment during the second quarter worth $263,000. Institutional investors 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.