Virtu Financial LLC acquired a new stake in shares of Golden Entertainment Inc (NASDAQ:GDEN) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,585 shares of the company’s stock, valued at approximately $280,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its stake in Golden Entertainment by 11.8% in the second quarter. Nationwide Fund Advisors now owns 6,360 shares of the company’s stock worth $132,000 after purchasing an additional 671 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Golden Entertainment by 10.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 20,600 shares of the company’s stock worth $503,000 after purchasing an additional 1,900 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Golden Entertainment by 194.4% during the fourth quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock valued at $173,000 after acquiring an additional 3,500 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Golden Entertainment by 122.9% during the second quarter. The Manufacturers Life Insurance Company now owns 9,735 shares of the company’s stock valued at $202,000 after acquiring an additional 5,368 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Golden Entertainment by 6.6% during the second quarter. Northern Trust Corp now owns 125,019 shares of the company’s stock valued at $2,589,000 after acquiring an additional 7,709 shares during the period. Institutional investors and hedge funds own 39.13% of the company’s stock.
In other news, Chairman Blake L. Sartini sold 953,506 shares of Golden Entertainment stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $25,401,399.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lyle Berman sold 750,000 shares of Golden Entertainment stock in a transaction 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 in the company, valued at approximately $43,765,284.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,750,000 shares of company stock valued at $153,180,000. 52.00% of the stock is currently owned by insiders.
Shares of GDEN traded down $0.48 during mid-day trading on Friday, reaching $24.58. The company’s stock had a trading volume of 335,855 shares, compared to its average volume of 511,620. Golden Entertainment Inc has a 1-year low of $13.03 and a 1-year high of $34.75. The stock has a market cap of $686.33, a price-to-earnings ratio of 72.29 and a beta of 0.52. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 3.00.
Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, March 15th. The company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.50). The firm had revenue of $184.35 million for the quarter, compared to analyst estimates of $174.80 million. Golden Entertainment had a return on equity of 1.86% and a net margin of 0.43%. analysts expect that Golden Entertainment Inc will post 1.45 earnings per share for the current year.
GDEN has been the topic of several research reports. Jefferies Group began coverage on Golden Entertainment in a report on Thursday, January 18th. They issued a “buy” rating and a $38.00 price target for the company. BidaskClub downgraded Golden Entertainment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 3rd. TheStreet downgraded Golden Entertainment from a “b” rating to a “c+” rating in a report on Thursday, March 15th. Telsey Advisory Group started coverage on Golden Entertainment in a research report on Tuesday, March 13th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Zacks Investment Research cut Golden Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.00.
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Golden Entertainment Profile
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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