Golden Entertainment, Inc. $GDEN is 1060 Capital LLC's Largest Position

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 raised its position in Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 328.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,000 shares of the company's stock after buying an additional 230,000 shares during the period. Golden Entertainment accounts for 17.9% of 1060 Capital LLC's investment portfolio, making the stock its biggest holding. 1060 Capital LLC owned 1.13% of Golden Entertainment worth $7,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming increased its stake in Golden Entertainment by 24.5% in the 1st quarter. State of Wyoming now owns 10,662 shares of the company's stock valued at $281,000 after buying an additional 2,098 shares during the last quarter. Trexquant Investment LP increased its stake in Golden Entertainment by 419.9% in the 1st quarter. Trexquant Investment LP now owns 42,198 shares of the company's stock valued at $1,114,000 after buying an additional 34,081 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Golden Entertainment by 9.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 825,426 shares of the company's stock worth $21,783,000 after buying an additional 70,175 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Golden Entertainment by 0.3% in the 1st quarter. Gabelli Funds LLC now owns 173,000 shares of the company's stock worth $4,565,000 after buying an additional 500 shares during the last quarter. Finally, Long Pond Capital LP purchased a new position in shares of Golden Entertainment in the 1st quarter worth about $11,474,000. Hedge funds and other institutional investors own 70.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GDEN shares. Macquarie cut their price target on shares of Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company cut their price target on shares of Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Truist Financial downgraded shares of Golden Entertainment from a "buy" rating to a "hold" rating and cut their price target for the stock from $36.00 to $34.00 in a report on Wednesday, July 16th. JMP Securities cut their price target on shares of 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 reissued an "outperform" rating on shares of Golden Entertainment in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Golden Entertainment Stock Performance

Golden Entertainment stock traded down $0.41 during mid-day trading on Friday, reaching $24.40. The company's stock had a trading volume of 113,674 shares, compared to its average volume of 205,771. Golden Entertainment, Inc. has a 12-month low of $22.66 and a 12-month high of $35.49. The company has a market capitalization of $638.26 million, a P/E ratio of 45.19 and a beta of 1.65. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.12. The firm's fifty day moving average price is $27.12 and its two-hundred day moving average price is $27.44.

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

Golden Entertainment Announces Dividend

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