Wells Fargo & Company Initiates Coverage on Golden Entertainment (NASDAQ:GDEN)

Equities researchers at Wells Fargo & Company assumed coverage on shares of Golden Entertainment (NASDAQ:GDEN) in a research note issued on Monday, Marketbeat reports. The brokerage set an “overweight” rating and a $38.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 14.94% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Macquarie decreased 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. JMP Securities upped their target price on Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a report on Monday, November 25th. StockNews.com raised shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Truist Financial cut their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, B. Riley cut their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.33.

Golden Entertainment Stock Performance

Shares of GDEN opened at $33.06 on Monday. The company has a 50-day moving average of $31.91 and a two-hundred day moving average of $31.12. The stock has a market cap of $906.80 million, a price-to-earnings ratio of 26.66 and a beta of 2.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. Golden Entertainment has a one year low of $27.42 and a one year high of $41.98.

Insider Activity

In other Golden Entertainment news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds have recently modified their holdings of GDEN. BNP Paribas Financial Markets boosted its position in Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after buying an additional 317 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Golden Entertainment by 1.9% during the third quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock valued at $557,000 after purchasing an additional 333 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Golden Entertainment by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after acquiring an additional 355 shares during the last quarter. Empowered Funds LLC raised its stake in Golden Entertainment by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after buying an additional 402 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Golden Entertainment by 6.4% during the 3rd quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after purchasing an additional 494 shares during the last quarter. 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.