Golden Entertainment (NASDAQ:GDEN) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Golden Entertainment (NASDAQ:GDENFree Report) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other equities analysts have also recently commented on GDEN. JMP Securities dropped their price target on shares of Golden Entertainment from $48.00 to $45.00 and set a market outperform rating for the company in a research note on Friday, March 1st. B. Riley began coverage on shares of Golden Entertainment in a research note on Friday, April 26th. They set a buy rating and a $46.00 price target for the company. Truist Financial dropped their price target on shares of Golden Entertainment from $45.00 to $44.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Golden Entertainment from $42.00 to $36.00 and set a buy rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Golden Entertainment presently has a consensus rating of Moderate Buy and an average target price of $42.75.

View Our Latest Analysis on GDEN

Golden Entertainment Stock Performance

Shares of NASDAQ:GDEN opened at $30.59 on Thursday. Golden Entertainment has a 52 week low of $28.20 and a 52 week high of $47.49. The stock has a market capitalization of $885.58 million, a P/E ratio of 3.30 and a beta of 2.21. The firm has a fifty day simple moving average of $31.07 and a two-hundred day simple moving average of $35.26. The company has a quick ratio of 2.33, a current ratio of 2.36 and a debt-to-equity ratio of 1.16.

Golden Entertainment (NASDAQ:GDENGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). Golden Entertainment had a return on equity of 1.13% and a net margin of 30.14%. The business had revenue of $174.05 million during the quarter, compared to analysts’ expectations of $168.72 million. On average, analysts expect that Golden Entertainment will post 0.5 earnings per share for the current fiscal year.

Golden Entertainment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. Golden Entertainment’s dividend payout ratio is currently 10.79%.

Institutional Investors Weigh In On Golden Entertainment

Several large investors have recently modified their holdings of the business. Jennison Associates LLC raised its stake in shares of Golden Entertainment by 6.5% during the 4th quarter. Jennison Associates LLC now owns 414,810 shares of the company’s stock worth $16,563,000 after acquiring an additional 25,355 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Golden Entertainment during the 4th quarter worth approximately $973,000. Swiss National Bank raised its stake in shares of Golden Entertainment by 1.1% during the 3rd quarter. Swiss National Bank now owns 47,600 shares of the company’s stock worth $1,627,000 after acquiring an additional 500 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Golden Entertainment by 83.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 251,299 shares of the company’s stock worth $10,034,000 after acquiring an additional 114,454 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Golden Entertainment by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,556,412 shares of the company’s stock worth $53,198,000 after acquiring an additional 3,988 shares in the last quarter. Institutional investors own 70.73% of the company’s stock.

About Golden Entertainment

(Get Free Report)

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.

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