Bank of New York Mellon Corp Sells 10,264 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN)

Bank of New York Mellon Corp lessened its holdings in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,394 shares of the company's stock after selling 10,264 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.88% of Golden Entertainment worth $6,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Intech Investment Management LLC acquired a new position in shares of Golden Entertainment during the 4th quarter worth approximately $288,000. Teacher Retirement System of Texas grew its stake in Golden Entertainment by 603.6% in the 4th quarter. Teacher Retirement System of Texas now owns 50,077 shares of the company's stock valued at $1,582,000 after buying an additional 42,960 shares during the last quarter. Vanguard Group Inc. grew its stake in Golden Entertainment by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 1,490,019 shares of the company's stock valued at $47,085,000 after buying an additional 57,285 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Golden Entertainment by 36.9% in the 4th quarter. JPMorgan Chase & Co. now owns 43,604 shares of the company's stock valued at $1,378,000 after buying an additional 11,742 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Golden Entertainment by 86.0% in the 4th quarter. Meeder Asset Management Inc. now owns 2,474 shares of the company's stock valued at $78,000 after buying an additional 1,144 shares during the last quarter. Institutional investors and hedge funds own 70.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen raised Golden Entertainment from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Truist Financial lowered Golden Entertainment from a "buy" rating to a "hold" rating and decreased their price objective for the company from $36.00 to $34.00 in a report on Wednesday, July 16th. JMP Securities decreased their price objective on Golden Entertainment from $36.00 to $35.00 and set a "market outperform" rating on the stock in a report on Friday, July 18th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Golden Entertainment in a report on Friday, July 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.50.

Golden Entertainment Price Performance

Shares of GDEN traded up $0.94 during mid-day trading on Friday, reaching $29.34. The company had a trading volume of 241,197 shares, compared to its average volume of 193,591. Golden Entertainment, Inc. has a 1-year low of $22.66 and a 1-year high of $35.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market capitalization of $775.46 million, a price-to-earnings ratio of 75.23 and a beta of 1.79. The company's 50 day simple moving average is $29.06 and its 200 day simple moving average is $29.08.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $160.84 million for the quarter, compared to analyst estimates of $164.37 million. Golden Entertainment had a net margin of 1.72% and a return on equity of 3.10%. Analysts expect that Golden Entertainment, Inc. will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 25th. This represents a $1.00 annualized dividend and a yield of 3.41%. Golden Entertainment's payout ratio is 256.41%.

Golden Entertainment 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.