Russell Investments Group Ltd. grew its stake in Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 50.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,679 shares of the company's stock after purchasing an additional 95,646 shares during the period. Russell Investments Group Ltd. owned approximately 1.08% of Golden Entertainment worth $7,539,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GDEN. JPMorgan Chase & Co. increased its holdings in shares of Golden Entertainment by 36.9% in the fourth quarter. JPMorgan Chase & Co. now owns 43,604 shares of the company's stock valued at $1,378,000 after purchasing an additional 11,742 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Golden Entertainment by 22.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,602 shares of the company's stock valued at $398,000 after purchasing an additional 2,331 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Golden Entertainment by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,620 shares of the company's stock valued at $2,326,000 after purchasing an additional 5,767 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Golden Entertainment in the fourth quarter valued at approximately $729,000. Finally, Barclays PLC increased its holdings in shares of Golden Entertainment by 4.4% in the fourth quarter. Barclays PLC now owns 51,090 shares of the company's stock valued at $1,615,000 after purchasing an additional 2,172 shares during the period. Institutional investors and hedge funds own 70.73% of the company's stock.
Golden Entertainment Price Performance
Golden Entertainment stock traded up $0.94 during trading hours on Friday, hitting $25.30. The stock had a trading volume of 177,105 shares, compared to its average volume of 229,708. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03. The stock has a market capitalization of $661.85 million, a price-to-earnings ratio of 46.85 and a beta of 1.83. Golden Entertainment, Inc. has a 1-year low of $22.66 and a 1-year high of $35.49. The stock's fifty day moving average is $28.41 and its two-hundred day moving average is $28.22.
Golden Entertainment (NASDAQ:GDEN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.17 earnings per share 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 analyst estimates of $169.70 million. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%. As a group, analysts predict that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.
Golden Entertainment Announces Dividend
The company also recently announced 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 yield of 4.0%. Golden Entertainment's dividend payout ratio is 185.19%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on GDEN shares. Macquarie dropped their target price on Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Truist Financial lowered Golden Entertainment from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $36.00 to $34.00 in a report on Wednesday, July 16th. JMP Securities dropped their price objective on Golden Entertainment from $36.00 to $35.00 and set a "market outperform" rating on the stock in a report on Friday, July 18th. Wells Fargo & Company dropped their price objective on Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Golden Entertainment in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.33.
Read Our Latest Analysis on Golden Entertainment
About Golden Entertainment
(
Free Report)
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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