Golden Entertainment, Inc. (NASDAQ:GDEN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Golden Entertainment, Inc. (NASDAQ:GDEN) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $36.57.

A number of analysts recently weighed in on GDEN shares. B. Riley decreased their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group upped their price target on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday. Macquarie reduced their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, JMP Securities boosted their price objective on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th.

Golden Entertainment Price Performance

Shares of GDEN opened at $31.40 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $32.25 and its two-hundred day moving average is $31.25. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $40.55. The firm has a market capitalization of $861.27 million, a PE ratio of 25.32 and a beta of 2.22.

Golden Entertainment Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.18%. Golden Entertainment’s dividend payout ratio is presently 80.65%.

Insider Activity at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction that occurred on Friday, December 20th. The stock was 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 in the company, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds have recently bought and sold shares of GDEN. Bank of New York Mellon Corp lifted its position in shares of Golden Entertainment by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 194,693 shares of the company’s stock valued at $6,057,000 after acquiring an additional 4,761 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Golden Entertainment in the 2nd quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Golden Entertainment by 17.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $184,000 after purchasing an additional 892 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Golden Entertainment by 9.1% during the 2nd quarter. Rhumbline Advisers now owns 52,360 shares of the company’s stock worth $1,629,000 after purchasing an additional 4,379 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Golden Entertainment during the second quarter worth about $1,180,000. Hedge funds and other 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.