Golden Entertainment, Inc. (NASDAQ:GDEN) Given Consensus Recommendation of “Buy” by Analysts

Golden Entertainment, Inc. (NASDAQ:GDEN) has received an average recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $37.33.

Several research firms recently commented on GDEN. JMP Securities boosted their target price on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. Wells Fargo & Company initiated coverage on Golden Entertainment in a research note on Monday. They set an “overweight” rating and a $38.00 price target for the company. StockNews.com raised Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Macquarie dropped their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Truist Financial dropped their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd.

Golden Entertainment Price Performance

Golden Entertainment stock opened at $33.36 on Thursday. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $41.98. The business has a 50-day simple moving average of $31.86 and a 200 day simple moving average of $31.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The stock has a market cap of $915.03 million, a price-to-earnings ratio of 26.90 and a beta of 2.22.

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Insider Activity

In other news, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the completion of the sale, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Golden Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in shares of Golden Entertainment by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after acquiring an additional 317 shares during the last quarter. HighTower Advisors LLC raised its position 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 purchasing an additional 333 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 purchasing an additional 355 shares during the last quarter. Empowered Funds LLC raised its position 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 purchasing an additional 402 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in Golden Entertainment by 6.4% during the 3rd quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after purchasing an additional 494 shares during the last quarter. 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.