American Century Companies Inc. Cuts Holdings in Golden Entertainment, Inc. $GDEN

Key Points

• American Century Companies Inc. reduced its stake in Golden Entertainment, Inc. by 20.9%, selling 59,362 shares, and now holds 0.85% of the company valued at approximately $5.93 million.
• Golden Entertainment announced a quarterly dividend of $0.25 per share, representing an annualized rate of $1.00 with a yield of 4.0%, to be paid on October 3rd.
• Recent analyst ratings for Golden Entertainment have been mixed, with target price reductions by firms like Macquarie and Truist, while the stock maintains a current average rating of "Moderate Buy" and a price target of $35.33.

American Century Companies Inc. cut its stake in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 224,761 shares of the company's stock after selling 59,362 shares during the period. American Century Companies Inc. owned about 0.85% of Golden Entertainment worth $5,931,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Golden Entertainment during the 4th quarter valued at $729,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Golden Entertainment by 27.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,536 shares of the company's stock valued at $1,881,000 after buying an additional 12,712 shares during the last quarter. DAVENPORT & Co LLC raised its stake in Golden Entertainment by 10.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,431,300 shares of the company's stock valued at $37,956,000 after buying an additional 138,137 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Golden Entertainment by 14.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 352,843 shares of the company's stock valued at $9,312,000 after buying an additional 43,647 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Golden Entertainment by 21.8% during the 1st quarter. GSA Capital Partners LLP now owns 29,482 shares of the company's stock valued at $778,000 after buying an additional 5,273 shares during the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GDEN has been the subject of a number of recent research reports. Truist Financial downgraded shares of Golden Entertainment from a "buy" rating to a "hold" rating and cut their price objective for the company from $36.00 to $34.00 in a research report on Wednesday, July 16th. Macquarie cut their price objective on shares of Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company cut their price objective on shares of Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. JMP Securities cut their price objective on shares of Golden Entertainment from $36.00 to $35.00 and set a "market outperform" rating for the company in a research report on Friday, July 18th. Finally, Citigroup reissued an "outperform" rating on shares of Golden Entertainment in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.33.

Golden Entertainment Price Performance

GDEN stock traded down $0.12 during trading on Wednesday, reaching $24.15. The company's stock had a trading volume of 127,377 shares, compared to its average volume of 219,091. Golden Entertainment, Inc. has a 1 year low of $22.66 and a 1 year high of $35.49. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $631.76 million, a P/E ratio of 44.72 and a beta of 1.65. The company's fifty day moving average is $27.77 and its 200-day moving average is $27.80.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%.The business had revenue of $163.62 million during the quarter, compared to analyst estimates of $169.70 million. On average, research analysts expect that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 25th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. Golden Entertainment's dividend payout ratio (DPR) is presently 185.19%.

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.