Truist Financial downgraded shares of Golden Entertainment (NASDAQ:GDEN - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning, Marketbeat Ratings reports. Truist Financial currently has $34.00 target price on the stock, down from their prior target price of $36.00.
Several other research analysts also recently commented on the company. Wall Street Zen upgraded Golden Entertainment from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JMP Securities reduced their target price on Golden Entertainment from $37.00 to $36.00 and set a "market outperform" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Golden Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.
Read Our Latest Stock Analysis on Golden Entertainment
Golden Entertainment Stock Down 2.4%
GDEN stock traded down $0.70 during mid-day trading on Wednesday, reaching $28.54. The company had a trading volume of 180,551 shares, compared to its average volume of 212,914. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $29.10 and a two-hundred day simple moving average of $29.16. The company has a market capitalization of $754.45 million, a price-to-earnings ratio of 73.18 and a beta of 1.79. Golden Entertainment has a 52 week low of $22.66 and a 52 week high of $35.49.
Golden Entertainment (NASDAQ:GDEN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The company had revenue of $160.84 million during the quarter, compared to the consensus estimate of $164.37 million. Golden Entertainment had a net margin of 1.72% and a return on equity of 3.10%. As a group, equities analysts predict that Golden Entertainment will post 0.2 earnings per share for the current fiscal year.
Golden Entertainment Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 25th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 25th. This represents a $1.00 annualized dividend and a yield of 3.50%. Golden Entertainment's payout ratio is currently 256.41%.
Institutional Trading of Golden Entertainment
Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in Golden Entertainment in the 2nd quarter valued at $35,000. Lazard Asset Management LLC raised its holdings in Golden Entertainment by 405.7% in the 4th 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. Meeder Asset Management Inc. raised its holdings in Golden Entertainment by 86.0% in the 4th quarter. Meeder Asset Management Inc. now owns 2,474 shares of the company's stock valued at $78,000 after acquiring an additional 1,144 shares in the last quarter. Inscription Capital LLC acquired a new position in Golden Entertainment in the 1st quarter valued at $165,000. Finally, GAMMA Investing LLC raised its holdings in Golden Entertainment by 1,136.9% in the 1st 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. 70.73% of the stock is owned by institutional investors and hedge funds.
About Golden Entertainment
(
Get 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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