Terrence Wright Sells 16,586 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) Stock

Golden Entertainment, Inc. (NASDAQ:GDEN) Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total value of $518,478.36. Following the sale, the director now owns 61,616 shares of the company’s stock, valued at $1,926,116.16. The trade was a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Golden Entertainment Stock Performance

NASDAQ:GDEN opened at $31.12 on Monday. The stock’s 50-day moving average is $32.06 and its 200-day moving average is $31.16. Golden Entertainment, Inc. has a 1-year low of $27.42 and a 1-year high of $40.85. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The stock has a market cap of $853.59 million, a P/E ratio of 25.10 and a beta of 2.22.

Golden Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 3.21%. Golden Entertainment’s dividend payout ratio is presently 80.65%.

Hedge Funds Weigh In On Golden Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its stake in shares of Golden Entertainment by 132.1% in the second quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock worth $46,251,000 after purchasing an additional 846,269 shares during the last quarter. Systematic Financial Management LP grew its position 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 buying an additional 124,218 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Golden Entertainment by 100.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock valued at $5,089,000 after buying an additional 82,175 shares during the last quarter. Peregrine Capital Management LLC raised its position in shares of Golden Entertainment by 43.0% during the second quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock worth $7,743,000 after acquiring an additional 74,867 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Golden Entertainment during the second quarter worth about $1,848,000. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GDEN shares. Wells Fargo & Company assumed coverage on Golden Entertainment in a report on Monday, December 16th. They set an “overweight” rating and a $38.00 price target for the company. Truist Financial lowered their target price 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. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. JMP Securities upped their price objective on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. Finally, B. Riley dropped their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Golden Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

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.