DAVENPORT & Co LLC Grows Position in Golden Entertainment, Inc. $GDEN

Key Points

• DAVENPORT & Co LLC increased its position in Golden Entertainment by 3.7% during Q2, now holding 1,484,882 shares, worth approximately $43.8 million.
• Golden Entertainment's stock currently has a consensus rating of "Moderate Buy" with a price target of $34.20 following recent ratings adjustments from several analysts.
• The company announced a quarterly dividend of $0.25, resulting in an annualized yield of 4.2%, although its payout ratio stands at an unusually high 185.19%.

DAVENPORT & Co LLC raised its holdings in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 3.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,484,882 shares of the company's stock after purchasing an additional 53,582 shares during the period. DAVENPORT & Co LLC owned 5.62% of Golden Entertainment worth $43,818,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Parallel Advisors LLC bought a new position in shares of Golden Entertainment during the second quarter valued at approximately $35,000. Inscription Capital LLC bought a new stake in Golden Entertainment during the 1st quarter valued at $165,000. GAMMA Investing LLC increased its holdings in shares of Golden Entertainment by 1,136.9% in the 1st quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock valued at $178,000 after acquiring an additional 6,185 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Golden Entertainment by 29.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,654 shares of the company's stock valued at $202,000 after acquiring an additional 1,750 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Golden Entertainment in the 1st quarter worth $222,000. Institutional investors own 70.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup reaffirmed an "outperform" rating on shares of Golden Entertainment in a research report on Tuesday, September 16th. Weiss Ratings restated a "hold (c-)" rating on shares of Golden Entertainment in a report on Saturday, September 27th. Wells Fargo & Company cut their price objective on shares of Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. JMP Securities decreased their target price on shares of Golden Entertainment from $35.00 to $34.00 and set a "market outperform" rating for the company in a research report on Tuesday, September 16th. Finally, Truist Financial downgraded shares of Golden Entertainment from a "buy" rating to a "hold" rating and lowered their target price for the company from $36.00 to $34.00 in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

Golden Entertainment Stock Performance

NASDAQ GDEN opened at $23.66 on Monday. The firm has a market capitalization of $618.95 million, a P/E ratio of 43.82 and a beta of 1.69. The stock has a 50-day simple moving average of $25.10 and a two-hundred day simple moving average of $26.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.12. Golden Entertainment, Inc. has a fifty-two week low of $22.66 and a fifty-two week high of $35.49.

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

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Thursday, September 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Thursday, September 25th. Golden Entertainment's payout ratio is currently 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.

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