Golden Entertainment (NASDAQ:GDEN) Stock Price Up 5.8% – What’s Next?

Golden Entertainment, Inc. (NASDAQ:GDEN)’s stock price was up 5.8% on Monday . The company traded as high as $27.43 and last traded at $27.70. Approximately 22,176 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 186,763 shares. The stock had previously closed at $26.17.

Wall Street Analyst Weigh In

Several analysts recently commented on GDEN shares. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Jefferies Financial Group increased their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and set a $40.00 price target on shares of Golden Entertainment in a research note on Friday, February 28th. Wells Fargo & Company started coverage on Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $36.00 price objective on shares of Golden Entertainment in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.86.

Golden Entertainment Stock Performance

The firm’s 50-day moving average is $31.44 and its 200 day moving average is $31.66. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. The stock has a market cap of $720.57 million, a PE ratio of 21.92 and a beta of 2.29.

Golden Entertainment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, March 21st. Golden Entertainment’s dividend payout ratio (DPR) is 59.88%.

Insider Buying and Selling

In other news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the completion of the sale, the director now owns 61,616 shares in the company, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Systematic Financial Management LP raised its stake in Golden Entertainment by 24.5% during the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after acquiring an additional 69,207 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Golden Entertainment by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 673,667 shares of the company’s stock valued at $21,288,000 after buying an additional 27,508 shares during the last quarter. Barclays PLC grew its position in shares of Golden Entertainment by 84.7% during the third quarter. Barclays PLC now owns 48,918 shares of the company’s stock worth $1,556,000 after acquiring an additional 22,440 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Golden Entertainment by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock worth $18,664,000 after acquiring an additional 24,264 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in 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 purchasing an additional 317 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.