Golden Entertainment (NASDAQ:GDEN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Several other analysts also recently issued reports on GDEN. Macquarie initiated coverage on Golden Entertainment in a report on Wednesday, October 25th. They set an “outperform” rating and a $35.00 price objective on the stock. TheStreet upgraded Golden Entertainment from a “c” rating to a “b-” rating in a report on Wednesday, November 8th. Finally, Jefferies Group started coverage on Golden Entertainment in a report on Thursday, January 18th. They set a “buy” rating and a $38.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $36.50.
Shares of Golden Entertainment (NASDAQ:GDEN) opened at $28.48 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.52 and a current ratio of 1.59. The stock has a market capitalization of $752.23, a PE ratio of 25.89 and a beta of 0.19. Golden Entertainment has a twelve month low of $11.12 and a twelve month high of $34.75.
In other Golden Entertainment news, Director Lyle Berman sold 750,000 shares of Golden Entertainment stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total transaction of $19,980,000.00. Following 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 SEC, which is available at this hyperlink. Also, Chairman Blake L. Sartini sold 953,506 shares of Golden Entertainment stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total value of $25,401,399.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,750,000 shares of company stock worth $153,180,000. Company insiders own 52.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Golden Entertainment by 7.7% during the 4th quarter. BlackRock Inc. now owns 544,913 shares of the company’s stock valued at $17,791,000 after acquiring an additional 38,732 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Golden Entertainment by 48.1% in the 4th quarter. Renaissance Technologies LLC now owns 475,397 shares of the company’s stock valued at $15,522,000 after buying an additional 154,397 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Golden Entertainment by 19.5% in the 2nd quarter. Vanguard Group Inc. now owns 394,913 shares of the company’s stock valued at $8,179,000 after buying an additional 64,501 shares in the last quarter. State Street Corp grew its stake in shares of Golden Entertainment by 8.3% in the 2nd quarter. State Street Corp now owns 188,575 shares of the company’s stock valued at $3,901,000 after buying an additional 14,459 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Golden Entertainment by 8.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 170,500 shares of the company’s stock valued at $4,157,000 after buying an additional 13,500 shares in the last quarter. 23.65% of the stock is currently owned by institutional investors.
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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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