Golden Entertainment (GDEN) Downgraded by TheStreet to C+

TheStreet lowered shares of Golden Entertainment (NASDAQ:GDEN) from a b rating to a c+ rating in a report issued on Thursday, March 15th.

A number of other brokerages have also issued reports on GDEN. BidaskClub lowered shares of Golden Entertainment from a strong-buy rating to a buy rating in a research report on Wednesday, January 3rd. 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 target price on the stock. Finally, 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 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $35.00.

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Shares of GDEN stock traded down $0.48 on Thursday, reaching $24.58. The stock had a trading volume of 335,855 shares, compared to its average volume of 511,620. The stock has a market cap of $673.20, a price-to-earnings ratio of 72.29 and a beta of 0.52. 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 has a 12 month low of $13.03 and a 12 month high of $34.75.

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 company had revenue of $184.35 million during the quarter, compared to the consensus estimate of $174.80 million. Golden Entertainment had a net margin of 0.43% and a return on equity of 1.86%. sell-side analysts predict that Golden Entertainment will post 1.45 EPS for the current fiscal year.

In other Golden Entertainment 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 sale, the director now owns 1,642,841 shares in the company, valued at $43,765,284.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Blake L. Sartini sold 953,506 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 transaction of $25,401,399.84. The disclosure for this sale can be found here. Insiders have sold a total of 5,750,000 shares of company stock worth $153,180,000 in the last quarter. 52.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC bought a new position in shares of Golden Entertainment during the fourth quarter valued at $180,000. Millennium Management LLC bought a new position in shares of Golden Entertainment during the fourth quarter valued at $2,559,000. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Golden Entertainment by 14.6% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 57,186 shares of the company’s stock valued at $1,866,000 after acquiring an additional 7,300 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Golden Entertainment during the fourth quarter valued at $727,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Golden Entertainment during the fourth quarter valued at $131,600,000. Hedge funds and other institutional investors own 39.13% of the company’s stock.

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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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