Golden Entertainment (NASDAQ:GDEN) Price Target Lowered to $36.00 at Truist Financial

Golden Entertainment (NASDAQ:GDEN) had its price objective trimmed by Truist Financial from $38.00 to $36.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on GDEN. Macquarie reduced their price objective on Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. B. Riley reduced their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. JMP Securities reduced their price objective on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, October 14th. Finally, StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Golden Entertainment Trading Down 1.7 %

Shares of Golden Entertainment stock opened at $29.88 on Wednesday. The company has a market capitalization of $865.00 million, a P/E ratio of 3.22 and a beta of 2.23. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $31.23 and a 200 day simple moving average of $31.01. Golden Entertainment has a 12-month low of $27.42 and a 12-month high of $42.14.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The business had revenue of $167.33 million during the quarter, compared to the consensus estimate of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. On average, sell-side analysts anticipate that Golden Entertainment will post 0.18 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.35%. Golden Entertainment’s payout ratio is 10.79%.

Insider Transactions at Golden Entertainment

In related news, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $33.32, for a total transaction of $25,756.36. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Golden Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in Golden Entertainment during the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $37,000. Quarry LP purchased a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $52,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $54,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $89,000. Hedge funds and other 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.