Golden Entertainment (NASDAQ:GDEN) PT Lowered to $39.00 at Macquarie

Golden Entertainment (NASDAQ:GDEN) had its target price cut by Macquarie from $41.00 to $39.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently weighed in on GDEN. B. Riley lowered their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a buy rating on the stock in a report on Monday, September 23rd. JMP Securities lowered their price objective on shares of Golden Entertainment from $39.00 to $36.00 and set a market outperform rating on the stock in a research note on Friday, August 9th. StockNews.com cut shares of Golden Entertainment from a buy rating to a hold rating in a report on Wednesday, July 24th. Finally, Truist Financial reduced their price target on Golden Entertainment from $40.00 to $38.00 and set a buy rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $37.80.

Golden Entertainment Price Performance

Shares of NASDAQ GDEN opened at $31.19 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. The business has a 50-day moving average of $31.13 and a 200-day moving average of $31.50. The stock has a market capitalization of $902.92 million, a price-to-earnings ratio of 3.36 and a beta of 2.23. Golden Entertainment has a fifty-two week low of $27.42 and a fifty-two week high of $42.14.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The company had revenue of $167.33 million during the quarter, compared to the consensus estimate of $176.34 million. As a group, sell-side analysts predict that Golden Entertainment will post 0.23 earnings per share for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 3.21%. Golden Entertainment’s dividend payout ratio is currently 10.79%.

Insiders Place Their Bets

In other news, Director Mark A. Lipparelli sold 773 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the transaction, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Golden Entertainment by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock worth $327,000 after purchasing an additional 355 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Golden Entertainment by 6.7% in the 1st quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock valued at $231,000 after acquiring an additional 394 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Golden Entertainment by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock worth $564,000 after purchasing an additional 524 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Golden Entertainment by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock worth $184,000 after purchasing an additional 892 shares during the period. Finally, Innealta Capital LLC acquired a new position in Golden Entertainment in the second quarter valued at about $34,000. Institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.