Golden Entertainment (GDEN) Announces Earnings Results, Misses Expectations By $0.26 EPS

Golden Entertainment (NASDAQ:GDEN) posted its quarterly earnings data on Thursday. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.26), Fidelity Earnings reports. The company had revenue of $210.34 million during the quarter, compared to analyst estimates of $214.70 million. Golden Entertainment had a net margin of 0.36% and a return on equity of 1.89%.

GDEN traded down $3.25 during trading on Friday, reaching $14.44. 1,971,722 shares of the stock traded hands, compared to its average volume of 343,938. The company has a current ratio of 2.38, a quick ratio of 2.29 and a debt-to-equity ratio of 2.69. The stock has a market capitalization of $475.96 million, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. Golden Entertainment has a 12 month low of $13.25 and a 12 month high of $34.75.

In other Golden Entertainment news, Director Lyle Berman sold 36,493 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $27.49, for a total transaction of $1,003,192.57. Following the sale, the director now owns 913,293 shares of the company’s stock, valued at $25,106,424.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen A. Arcana sold 11,350 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $29.03, for a total transaction of $329,490.50. Following the sale, the chief operating officer now directly owns 68,434 shares in the company, valued at approximately $1,986,639.02. The disclosure for this sale can be found here. Insiders have sold 210,024 shares of company stock worth $5,390,719 in the last ninety days. Insiders own 33.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP boosted its position in Golden Entertainment by 20.4% during the second quarter. First Trust Advisors LP now owns 17,691 shares of the company’s stock valued at $477,000 after acquiring an additional 3,000 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Golden Entertainment by 7.4% during the second quarter. Eagle Asset Management Inc. now owns 52,224 shares of the company’s stock valued at $1,409,000 after acquiring an additional 3,587 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Golden Entertainment during the 2nd quarter worth about $108,000. Teton Advisors Inc. boosted its position in shares of Golden Entertainment by 0.8% during the 2nd quarter. Teton Advisors Inc. now owns 509,297 shares of the company’s stock worth $13,746,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Golden Entertainment by 53.0% during the 3rd quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock worth $305,000 after purchasing an additional 4,400 shares in the last quarter. 63.43% of the stock is currently owned by institutional investors and hedge funds.

GDEN has been the subject of a number of recent research reports. Jefferies Financial Group set a $39.00 price objective on Golden Entertainment and gave the company a “buy” rating in a report on Monday, September 24th. BidaskClub downgraded Golden Entertainment from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Deutsche Bank initiated coverage on Golden Entertainment in a report on Thursday, October 4th. They issued a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research downgraded Golden Entertainment from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 10th. Finally, TheStreet downgraded Golden Entertainment from a “b” rating to a “c” rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Golden Entertainment currently has a consensus rating of “Hold” and a consensus price target of $38.33.

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About Golden Entertainment

Golden Entertainment, Inc, together with its subsidiaries, focuses on distributed gaming, and resort casino operations in the United States. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area.

Further Reading: Hedge Funds Explained

Earnings History for Golden Entertainment (NASDAQ:GDEN)

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