Gabelli Funds LLC Raises Position in Golden Entertainment Inc (NASDAQ:GDEN)

Gabelli Funds LLC increased its holdings in Golden Entertainment Inc (NASDAQ:GDEN) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 238,500 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Gabelli Funds LLC owned 0.86% of Golden Entertainment worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP bought a new stake in Golden Entertainment in the 2nd quarter worth $416,000. Algert Global LLC bought a new stake in Golden Entertainment in the 2nd quarter worth $232,000. Gamco Investors INC. ET AL grew its holdings in Golden Entertainment by 0.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 268,000 shares of the company’s stock worth $3,752,000 after acquiring an additional 1,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Golden Entertainment by 48.1% in the 2nd quarter. Renaissance Technologies LLC now owns 247,700 shares of the company’s stock worth $3,468,000 after acquiring an additional 80,400 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Golden Entertainment by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,622 shares of the company’s stock worth $1,044,000 after acquiring an additional 4,009 shares during the last quarter. Institutional investors own 53.21% of the company’s stock.

A number of brokerages have issued reports on GDEN. BidaskClub raised shares of Golden Entertainment from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research lowered shares of Golden Entertainment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. JPMorgan Chase & Co. began coverage on shares of Golden Entertainment in a report on Wednesday, October 23rd. They issued an “overweight” rating and a $18.00 price target on the stock. TheStreet lowered shares of Golden Entertainment from a “c-” rating to a “d” rating in a report on Monday, September 9th. Finally, ValuEngine raised shares of Golden Entertainment from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.00.

In other Golden Entertainment news, Director Anthony A. Marnell III bought 10,000 shares of Golden Entertainment stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $13.23 per share, with a total value of $132,300.00. Following the completion of the acquisition, the director now owns 34,579 shares in the company, valued at $457,480.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony A. Marnell III purchased 5,900 shares of the company’s stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $12.87 per share, with a total value of $75,933.00. Following the completion of the transaction, the director now owns 34,579 shares of the company’s stock, valued at $445,031.73. The disclosure for this purchase can be found here. 36.40% of the stock is currently owned by corporate insiders.

Shares of GDEN traded up $0.50 during trading hours on Friday, reaching $16.06. 313,400 shares of the company traded hands, compared to its average volume of 148,074. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 4.18. The company’s fifty day moving average price is $13.84 and its two-hundred day moving average price is $14.02. Golden Entertainment Inc has a 12 month low of $12.32 and a 12 month high of $20.42. The company has a market capitalization of $438.72 million, a price-to-earnings ratio of -30.30 and a beta of 1.26.

Golden Entertainment (NASDAQ:GDEN) last announced its earnings results on Thursday, November 7th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.18). Golden Entertainment had a negative net margin of 5.60% and a negative return on equity of 8.67%. The business had revenue of $243.31 million for the quarter, compared to analysts’ expectations of $241.69 million. On average, analysts expect that Golden Entertainment Inc will post -0.59 EPS for the current year.

Golden Entertainment Profile

Golden Entertainment, Inc engages in the development, finance, management, and ownership of casino properties. It operates through the Distributed Gaming and Casinos segments. The Distributed Gaming segment involves in the installation, maintenance, and operation of slots and amusement devices in non-casino locations such as grocery stores, convenience stores, liquor stores, restaurants, bars, and taverns; and the operation of wholly-owned branded taverns targeting local patrons.

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Institutional Ownership by Quarter for Golden Entertainment (NASDAQ:GDEN)

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