BidaskClub upgraded shares of Golden Entertainment (NASDAQ:GDEN) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Golden Entertainment from a hold rating to a strong sell rating in a research report on Tuesday, March 20th. TheStreet downgraded shares of Golden Entertainment from a b rating to a c+ rating in a research report on Thursday, March 15th. Telsey Advisory Group began coverage on shares of Golden Entertainment in a research report on Tuesday, March 13th. They set an outperform rating and a $32.00 price objective for the company. Finally, Jefferies Group began coverage on shares of Golden Entertainment in a research report on Thursday, January 18th. They set a buy rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Golden Entertainment currently has an average rating of Hold and a consensus price target of $35.00.
Shares of GDEN traded down $0.48 during midday trading on Friday, hitting $24.58. The company had a trading volume of 335,855 shares, compared to its average volume of 511,620. The company has a market capitalization of $686.33, a P/E ratio of 72.29 and a beta of 0.52. Golden Entertainment has a 52 week low of $13.03 and a 52 week high of $34.75. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.64 and a current ratio of 1.71.
Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, March 15th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.50). Golden Entertainment had a net margin of 0.43% and a return on equity of 1.86%. The business had revenue of $184.35 million for the quarter, compared to the consensus estimate of $174.80 million. sell-side analysts expect that Golden Entertainment will post 1.45 earnings per share for the current fiscal year.
In related news, Director Lyle Berman sold 750,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total transaction of $19,980,000.00. Following the completion of the sale, the director now owns 1,642,841 shares of the company’s stock, valued at approximately $43,765,284.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Goldman Sachs Group Inc sold 4,046,494 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total transaction of $107,798,600.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,750,000 shares of company stock valued at $153,180,000. Insiders own 52.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in Golden Entertainment during the 4th quarter valued at about $131,600,000. Arrowstreet Capital Limited Partnership boosted its stake in Golden Entertainment by 3.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 169,406 shares of the company’s stock valued at $5,531,000 after purchasing an additional 6,204 shares during the period. American Century Companies Inc. acquired a new position in Golden Entertainment during the 4th quarter valued at about $263,000. Ramsey Quantitative Systems acquired a new position in Golden Entertainment during the 4th quarter valued at about $168,000. Finally, Swiss National Bank acquired a new position in Golden Entertainment during the 4th quarter valued at about $620,000. 39.13% of the stock is owned by hedge funds and other 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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