Golden Entertainment (NASDAQ:GDEN) Sets New 1-Year Low – Here’s What Happened

Golden Entertainment, Inc. (NASDAQ:GDEN) hit a new 52-week low on Thursday . The stock traded as low as $24.48 and last traded at $25.06, with a volume of 106190 shares trading hands. The stock had previously closed at $27.46.

Analysts Set New Price Targets

A number of brokerages have commented on GDEN. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Jefferies Financial Group upped their target price on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $36.00 price target on shares of Golden Entertainment in a research report on Thursday, January 16th. Macquarie reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Golden Entertainment in a research report on Friday, February 28th. Finally, Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Golden Entertainment presently has an average rating of “Moderate Buy” and an average target price of $36.86.

Golden Entertainment Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. The firm has a fifty day simple moving average of $30.10 and a two-hundred day simple moving average of $31.22. The firm has a market capitalization of $652.17 million, a P/E ratio of 19.84 and a beta of 1.99.

Golden Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Friday, March 21st. Golden Entertainment’s dividend payout ratio (DPR) is presently 59.88%.

Institutional Trading of Golden Entertainment

A number of institutional investors have recently modified their holdings of GDEN. Systematic Financial Management LP raised its holdings in Golden Entertainment by 24.5% during the 3rd quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after acquiring an additional 69,207 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Golden Entertainment by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 673,667 shares of the company’s stock valued at $21,288,000 after purchasing an additional 27,508 shares in the last quarter. Barclays PLC raised its stake in shares of Golden Entertainment by 84.7% during the 3rd quarter. Barclays PLC now owns 48,918 shares of the company’s stock valued at $1,556,000 after purchasing an additional 22,440 shares during the period. Geode Capital Management LLC lifted its holdings in Golden Entertainment by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock worth $18,664,000 after purchasing an additional 24,264 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Golden Entertainment by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after purchasing an additional 317 shares during the period. 70.73% of the stock is currently owned by hedge funds and other 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.