Public Sector Pension Investment Board Raises Stock Position in Golden Entertainment, Inc. $GDEN

Key Points

• The Public Sector Pension Investment Board increased its stake in Golden Entertainment, Inc. by 27.3%, holding approximately $1.7 million worth of shares.
• Golden Entertainment announced a quarterly dividend of $0.25 per share, representing a 4.1% dividend yield, with a high dividend payout ratio of 185.19%.
• Analysts have mixed ratings on GDEN, with a consensus rating of "Moderate Buy" and an average price target of $35.33.

Public Sector Pension Investment Board lifted its position in Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,272 shares of the company's stock after purchasing an additional 14,014 shares during the quarter. Public Sector Pension Investment Board owned about 0.25% of Golden Entertainment worth $1,723,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GDEN. Lazard Asset Management LLC boosted its holdings in shares of Golden Entertainment by 405.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,871 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares during the period. Inscription Capital LLC purchased a new stake in shares of Golden Entertainment in the first quarter valued at approximately $165,000. GAMMA Investing LLC increased its holdings in Golden Entertainment by 1,136.9% during the 1st quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock worth $178,000 after purchasing an additional 6,185 shares during the period. Two Sigma Securities LLC raised its position 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, Zurcher Kantonalbank Zurich Cantonalbank lifted 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 acquiring an additional 1,750 shares during the period. Institutional investors own 70.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GDEN shares. Citigroup reiterated an "outperform" rating on shares of Golden Entertainment in a report on Friday, July 18th. Wall Street Zen upgraded Golden Entertainment from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Macquarie dropped their target price on Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company reduced their price target on Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Finally, Truist Financial lowered 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 report on Wednesday, July 16th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.33.

Golden Entertainment Stock Up 1.0%

NASDAQ:GDEN traded up $0.2550 during mid-day trading on Monday, hitting $25.5550. The stock had a trading volume of 51,398 shares, compared to its average volume of 210,155. Golden Entertainment, Inc. has a twelve month low of $22.66 and a twelve month high of $35.49. The stock has a 50-day simple moving average of $28.41 and a two-hundred day simple moving average of $28.19. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $668.47 million, a PE ratio of 47.32 and a beta of 1.83.

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

Golden Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 25th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. Golden Entertainment's dividend payout ratio is presently 185.19%.

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.