Jefferies Group started coverage on shares of Golden Entertainment (NASDAQ:GDEN) in a report published on Thursday, January 18th, MarketBeat.com reports. The brokerage issued a buy rating and a $38.00 price objective on the stock.
A number of other equities research analysts have also recently weighed in on GDEN. BidaskClub cut Golden Entertainment from a strong-buy rating to a buy rating in a report on Wednesday, January 3rd. TheStreet raised Golden Entertainment from a c rating to a b- rating in a report on Wednesday, November 8th. Finally, Macquarie began coverage on shares of Golden Entertainment in a research note on Wednesday, October 25th. They set an outperform rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $36.50.
Golden Entertainment (NASDAQ:GDEN) opened at $28.44 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.52 and a current ratio of 1.59. Golden Entertainment has a 12-month low of $11.12 and a 12-month high of $34.75. The company has a market cap of $751.18, a PE ratio of 25.85 and a beta of 0.19.
In related news, Director Lyle Berman sold 750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total value of $19,980,000.00. Following the completion of the transaction, the director now owns 1,642,841 shares of the company’s stock, valued at approximately $43,765,284.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Blake L. Sartini sold 953,506 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total transaction of $25,401,399.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,750,000 shares of company stock worth $153,180,000. 52.00% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems acquired a new stake in shares of Golden Entertainment in the 4th quarter valued at $168,000. Bessemer Group Inc. lifted its stake in shares of Golden Entertainment by 194.4% in the 4th quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock valued at $173,000 after purchasing an additional 3,500 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Golden Entertainment by 11.8% in the 2nd quarter. Nationwide Fund Advisors now owns 6,360 shares of the company’s stock valued at $132,000 after purchasing an additional 671 shares during the last quarter. Martingale Asset Management L P acquired a new stake in shares of Golden Entertainment in the 4th quarter valued at $223,000. Finally, Perkins Capital Management Inc. acquired a new stake in shares of Golden Entertainment in the 4th quarter valued at $257,000. 23.65% of the stock is owned by institutional investors and hedge funds.
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About Golden Entertainment
Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.
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