JMP Securities Forecasts Strong Price Appreciation for Golden Entertainment (NASDAQ:GDEN) Stock

Golden Entertainment (NASDAQ:GDEN) had its target price hoisted by JMP Securities from $35.00 to $36.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other research analysts have also commented on the company. B. Riley decreased their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Truist Financial lowered their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Macquarie cut their price objective 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.20.

Golden Entertainment Trading Down 0.1 %

Shares of NASDAQ:GDEN opened at $33.26 on Monday. Golden Entertainment has a 12-month low of $27.42 and a 12-month high of $42.14. The business has a 50 day moving average of $31.38 and a 200-day moving average of $30.77. 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 stock has a market cap of $912.32 million, a PE ratio of 26.82 and a beta of 2.24.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Insider Buying and Selling

In other news, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 82,740 shares in the company, valued at approximately $2,756,896.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its stake in shares of Golden Entertainment by 132.1% in the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after purchasing an additional 846,269 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Golden Entertainment by 2,745.8% in the second quarter. Assenagon Asset Management S.A. now owns 183,156 shares of the company’s stock worth $5,698,000 after acquiring an additional 176,720 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Golden Entertainment by 78.2% in the 2nd 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. Dimensional Fund Advisors LP grew its holdings in shares of Golden Entertainment by 100.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock valued at $5,089,000 after purchasing an additional 82,175 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in Golden Entertainment by 43.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock valued at $7,743,000 after purchasing an additional 74,867 shares during the last quarter. 70.73% of the stock is owned by 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.