Golden Entertainment (NASDAQ:GDEN) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $32.31 and traded as high as $34.38. Golden Entertainment shares last traded at $34.09, with a volume of 208,081 shares.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GDEN. Jefferies Financial Group raised their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a report on Thursday, January 16th. Truist Financial decreased their price objective on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Macquarie decreased their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company started coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They issued an “overweight” rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Golden Entertainment has an average rating of “Moderate Buy” and a consensus price target of $36.57.

Golden Entertainment Stock Performance

The stock has a market capitalization of $935.05 million, a P/E ratio of 27.49 and a beta of 2.21. The company’s 50-day moving average is $32.31 and its two-hundred day moving average is $31.71. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

Insider Activity at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the sale, the director now directly owns 61,616 shares in the company, valued at $1,926,116.16. This trade represents a 21.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 29.10% of the stock is currently owned by insiders.

Institutional Trading of Golden Entertainment

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after buying an additional 317 shares during the period. HighTower Advisors LLC increased its stake in Golden Entertainment by 1.9% during the 3rd quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock valued at $557,000 after buying an additional 333 shares during the period. Beacon Investment Advisors LLC increased its stake in Golden Entertainment by 0.8% during the 4th quarter. Beacon Investment Advisors LLC now owns 44,559 shares of the company’s stock valued at $1,408,000 after buying an additional 333 shares during the period. The Manufacturers Life Insurance Company increased its stake in Golden Entertainment by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after buying an additional 355 shares during the period. Finally, Empowered Funds LLC increased its stake in Golden Entertainment by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after buying an additional 402 shares during the period. 70.73% of the stock is currently owned by institutional investors.

About Golden Entertainment

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.