Golden Entertainment (NASDAQ:GDEN) Downgraded by StockNews.com

StockNews.com cut shares of Golden Entertainment (NASDAQ:GDEN) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other research firms have also recently commented on GDEN. JMP Securities reduced their price target on Golden Entertainment from $42.00 to $39.00 and set a market outperform rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. B. Riley assumed coverage on shares of Golden Entertainment in a research note on Friday, April 26th. They issued a buy rating and a $46.00 target price on the stock. Finally, Truist Financial reduced their price target on shares of Golden Entertainment from $43.00 to $40.00 and set a buy rating for the company in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $40.25.

Golden Entertainment Trading Up 3.6 %

NASDAQ:GDEN opened at $32.76 on Wednesday. The firm has a market capitalization of $948.40 million, a P/E ratio of 3.53 and a beta of 2.23. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.36 and a quick ratio of 2.33. Golden Entertainment has a one year low of $28.20 and a one year high of $47.49. The company’s 50-day simple moving average is $29.96 and its 200 day simple moving average is $33.57.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). The company had revenue of $174.05 million during the quarter, compared to the consensus estimate of $168.72 million. Golden Entertainment had a return on equity of 1.13% and a net margin of 30.14%. As a group, analysts forecast that Golden Entertainment will post 0.5 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. Golden Entertainment’s dividend payout ratio is presently 10.79%.

Institutional Investors Weigh In On Golden Entertainment

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Golden Entertainment in the second quarter worth $54,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Golden Entertainment during the 1st quarter valued at about $214,000. Inscription Capital LLC purchased a new stake in shares of Golden Entertainment during the 1st quarter valued at about $226,000. New York State Teachers Retirement System lifted its stake in shares of Golden Entertainment by 6.7% in the 1st quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock worth $231,000 after purchasing an additional 394 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Golden Entertainment by 25.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 7,254 shares of the company’s stock worth $267,000 after buying an additional 1,480 shares during the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

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.