Golden Entertainment, Inc. $GDEN Holdings Boosted by 1060 Capital LLC

Key Points

• 1060 Capital LLC significantly increased its stake in Golden Entertainment, Inc. by 328.6% in Q1, making it their largest investment at approximately 17.9% of their portfolio.
• Golden Entertainment has seen diverse interest from institutional investors, with companies like Lazard Asset Management and GAMMA Investing raising their positions by over 400% in the last quarters.
• The firm announced a quarterly dividend of $0.25, offering an annual yield of 4.1%, despite a high dividend payout ratio of 185.19%.

1060 Capital LLC grew its holdings in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 328.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the company's stock after acquiring an additional 230,000 shares during the period. Golden Entertainment comprises about 17.9% of 1060 Capital LLC's investment portfolio, making the stock its biggest holding. 1060 Capital LLC owned approximately 1.13% of Golden Entertainment worth $7,917,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC grew its stake in shares of Golden Entertainment by 405.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,871 shares of the company's stock valued at $59,000 after acquiring an additional 1,501 shares in the last quarter. Inscription Capital LLC acquired a new stake in shares of Golden Entertainment during the first quarter valued at about $165,000. GAMMA Investing LLC grew its stake in shares of Golden Entertainment by 1,136.9% during the first 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Golden Entertainment by 29.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,654 shares of the company's stock worth $202,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Golden Entertainment by 16.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,678 shares of the company's stock worth $243,000 after purchasing an additional 1,085 shares in the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Golden Entertainment Price Performance

Shares of NASDAQ GDEN traded down $0.41 during trading on Friday, hitting $24.40. The company had a trading volume of 113,674 shares, compared to its average volume of 162,822. The company has a market cap of $638.30 million, a P/E ratio of 45.19 and a beta of 1.65. Golden Entertainment, Inc. has a 52 week low of $22.66 and a 52 week high of $35.49. The business's 50-day moving average is $26.99 and its 200 day moving average is $27.37. 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 (NASDAQ:GDEN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $163.62 million for the quarter, compared to analysts' expectations of $169.70 million. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%. Equities research analysts predict that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. Golden Entertainment's dividend payout ratio is currently 185.19%.

Analysts Set New Price Targets

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

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.