Bernzott Capital Advisors Sells 58,340 Shares of Golden Entertainment, Inc. $GDEN

Key Points

• Bernzott Capital Advisors cut its stake in Golden Entertainment (NASDAQ:GDEN) by 17.3%, selling 58,340 shares and leaving it with 277,948 shares (about 1.06% of the company) valued at roughly $7.56 million, representing ~3.6% of Bernzott’s portfolio and its 8th largest holding.
• Q4 results missed: GDEN reported EPS of ($0.01) vs. $0.11 expected and revenue of $155.63M vs. $166.61M consensus, and the company paid a special dividend of $2.75 per share on May 1.
• Market view and ownership: Analysts’ consensus is a “Hold” with an average target of $32.75 (1 Buy, 5 Hold, 1 Sell), and institutional/hedge funds own about 70.73% of the stock.

Bernzott Capital Advisors reduced its stake in Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 277,948 shares of the company's stock after selling 58,340 shares during the period. Golden Entertainment comprises approximately 3.6% of Bernzott Capital Advisors' investment portfolio, making the stock its 8th largest position. Bernzott Capital Advisors owned 1.06% of Golden Entertainment worth $7,557,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its stake in shares of Golden Entertainment by 3.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 901,138 shares of the company's stock valued at $21,249,000 after purchasing an additional 32,992 shares in the last quarter. New York State Common Retirement Fund boosted its position in Golden Entertainment by 1.3% during the 3rd quarter. New York State Common Retirement Fund now owns 431,177 shares of the company's stock worth $10,167,000 after buying an additional 5,612 shares during the period. Two Sigma Investments LP boosted its position in Golden Entertainment by 80.7% during the 3rd quarter. Two Sigma Investments LP now owns 190,545 shares of the company's stock worth $4,493,000 after buying an additional 85,071 shares during the period. Gabelli Funds LLC boosted its position in Golden Entertainment by 8.3% during the 3rd quarter. Gabelli Funds LLC now owns 190,200 shares of the company's stock worth $4,485,000 after buying an additional 14,600 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Golden Entertainment by 57.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 149,574 shares of the company's stock worth $3,527,000 after buying an additional 54,275 shares during the period. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GDEN has been the topic of several recent research reports. Weiss Ratings downgraded shares of Golden Entertainment from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. Citigroup reiterated a "market perform" rating on shares of Golden Entertainment in a research report on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of Golden Entertainment to a "hold" rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $32.75.

Golden Entertainment Price Performance

Golden Entertainment stock opened at $28.55 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.07 and a current ratio of 1.17. Golden Entertainment, Inc. has a 52-week low of $19.57 and a 52-week high of $32.74. The firm has a 50 day moving average price of $27.85 and a two-hundred day moving average price of $27.44. The firm has a market cap of $753.69 million, a price-to-earnings ratio of -114.20 and a beta of 1.40.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). The firm had revenue of $155.63 million for the quarter, compared to the consensus estimate of $166.61 million. Golden Entertainment had a positive return on equity of 0.51% and a negative net margin of 0.95%.

Golden Entertainment Announces Dividend

The business also recently disclosed a special dividend, which was paid on Friday, May 1st. Stockholders of record on Thursday, April 30th were paid a $2.75 dividend. Golden Entertainment's dividend payout ratio is currently -400.00%.

About Golden Entertainment

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company's core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy's Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT's branded venues throughout Southern Nevada.

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