BidaskClub lowered shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a sell rating in a report issued on Friday.
A number of other research analysts have also recently issued reports on GDEN. Jefferies Group initiated 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. Telsey Advisory Group initiated coverage on Golden Entertainment in a report on Tuesday, March 13th. They issued an outperform rating and a $32.00 price target for the company. TheStreet cut Golden Entertainment from a b rating to a c+ rating in a report on Thursday, March 15th. Finally, Zacks Investment Research cut Golden Entertainment from a hold rating to a strong sell rating in a report on Tuesday, March 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $35.00.
Golden Entertainment stock opened at $24.14 on Friday. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.71 and a quick ratio of 1.64. Golden Entertainment has a 12-month low of $13.21 and a 12-month high of $34.75. The stock has a market capitalization of $633.20, a P/E ratio of 71.00 and a beta of 0.52.
Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, March 15th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $174.80 million. sell-side analysts predict that Golden Entertainment will post 1.45 EPS for the current fiscal year.
In related 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 value of $19,980,000.00. Following the completion of the sale, the director now directly owns 1,642,841 shares in the company, valued at $43,765,284.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Blake L. Sartini sold 953,506 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 value of $25,401,399.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,750,000 shares of company stock valued at $153,180,000. Corporate insiders own 52.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new stake in Golden Entertainment in the fourth quarter worth about $180,000. Millennium Management LLC acquired a new stake in Golden Entertainment in the fourth quarter worth about $2,559,000. Cornerstone Capital Management Holdings LLC. increased its position in Golden Entertainment by 14.6% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 57,186 shares of the company’s stock worth $1,866,000 after purchasing an additional 7,300 shares during the period. Two Sigma Investments LP acquired a new stake in Golden Entertainment in the fourth quarter worth about $727,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Golden Entertainment in the fourth quarter worth about $131,600,000. Hedge funds and other institutional investors own 39.17% 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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