Golden Entertainment, Inc. $GDEN Stock Position Lifted by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased its stake in Golden Entertainment, Inc. by 9.3%, owning 3.12% of the company, worth approximately $21.8 million.
• Analysts have recently upgraded Golden Entertainment's stock rating to "buy" while adjusting the price target to an average of $35.33, signaling positive sentiment towards the stock.
• Golden Entertainment declared a quarterly dividend of $0.25, with an annualized yield of 3.9%, indicating a commitment to returning value to shareholders despite a high payout ratio of 185.19%.

Gamco Investors INC. ET AL boosted its stake in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 825,426 shares of the company's stock after purchasing an additional 70,175 shares during the period. Gamco Investors INC. ET AL owned approximately 3.12% of Golden Entertainment worth $21,783,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its holdings in Golden Entertainment by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 26,706 shares of the company's stock valued at $705,000 after purchasing an additional 439 shares in the last quarter. Invesco Ltd. grew its holdings in Golden Entertainment by 0.4% during the 1st quarter. Invesco Ltd. now owns 109,805 shares of the company's stock valued at $2,898,000 after purchasing an additional 479 shares in the last quarter. Gabelli Funds LLC grew its holdings in Golden Entertainment by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 173,000 shares of the company's stock valued at $4,565,000 after purchasing an additional 500 shares in the last quarter. Two Sigma Securities LLC grew its holdings in Golden Entertainment by 10.9% during the 4th quarter. Two Sigma Securities LLC now owns 7,219 shares of the company's stock valued at $228,000 after purchasing an additional 709 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Golden Entertainment by 2.9% during the 1st quarter. Victory Capital Management Inc. now owns 30,600 shares of the company's stock valued at $808,000 after purchasing an additional 849 shares in the last quarter. Hedge funds and other institutional investors own 70.73% of the company's stock.

Golden Entertainment Price Performance

Golden Entertainment stock traded down $0.38 during trading hours on Friday, hitting $24.87. 115,700 shares of the company traded hands, compared to its average volume of 225,546. The firm has a market cap of $650.55 million, a P/E ratio of 46.06 and a beta of 1.83. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.95. The firm's 50-day simple moving average is $28.08 and its two-hundred day simple moving average is $27.95. Golden Entertainment, Inc. has a 1-year low of $22.66 and a 1-year high of $35.49.

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

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.00 annualized dividend and a yield of 4.0%. Golden Entertainment's dividend payout ratio (DPR) is presently 185.19%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Golden Entertainment from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company reduced their price target 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 reduced 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 research report on Friday, July 18th. Macquarie reduced their price target on shares of Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Citigroup restated an "outperform" rating on shares of Golden Entertainment in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.33.

Golden Entertainment Company 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.