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

Golden Entertainment, Inc. (NASDAQ:GDEN) has earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $36.57.

A number of research analysts have recently issued reports on the stock. JMP Securities lifted their price objective on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. B. Riley cut their price target on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group raised their price objective on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Finally, 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.

Insider Buying and Selling at Golden Entertainment

In other news, Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,926,116.16. This represents a 21.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

Several hedge funds have recently added to or reduced their stakes in GDEN. Meeder Asset Management Inc. purchased a new position in shares of Golden Entertainment during the 3rd quarter valued at about $42,000. Quarry LP purchased a new position in Golden Entertainment during the second quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC purchased a new position in Golden Entertainment during the second quarter valued at approximately $54,000. Ashton Thomas Private Wealth LLC acquired a new position in Golden Entertainment in the second quarter valued at approximately $89,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Golden Entertainment in the 2nd quarter worth approximately $143,000. 70.73% of the stock is owned by hedge funds and other institutional investors.

Golden Entertainment Price Performance

GDEN opened at $31.15 on Monday. The firm has a market capitalization of $854.41 million, a PE ratio of 25.12 and a beta of 2.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. The business’s 50-day moving average is $32.37 and its two-hundred day moving average is $31.30. Golden Entertainment has a 1 year low of $27.42 and a 1 year high of $40.55.

Golden Entertainment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 3.21%. Golden Entertainment’s dividend payout ratio is currently 80.65%.

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.