Golden Entertainment (NASDAQ:GDEN) Given New $37.00 Price Target at Macquarie

Key Points

• Macquarie has lowered its price target for Golden Entertainment from $38.00 to $37.00, while maintaining an "outperform" rating, indicating a potential upside of 46.71% from the stock's previous close.
• Golden Entertainment shares recently traded down 5.8% to $25.22, with a market capitalization of $666.56 million and a current ratio of 0.95.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $36.00, reflecting a variety of opinions from multiple research firms.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) had its price objective lowered by investment analysts at Macquarie from $38.00 to $37.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Macquarie's target price would suggest a potential upside of 46.71% from the stock's previous close.

GDEN has been the subject of several other reports. JMP Securities reduced their price target on Golden Entertainment from $36.00 to $35.00 and set a "market outperform" rating for the company in a report on Friday, July 18th. Truist Financial downgraded Golden Entertainment from a "buy" rating to a "hold" rating and reduced their price target for the company from $36.00 to $34.00 in a report on Wednesday, July 16th. Citigroup restated an "outperform" rating on shares of Golden Entertainment in a report on Friday, July 18th. Finally, Wall Street Zen upgraded Golden Entertainment from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.00.

Golden Entertainment Trading Down 5.8%

Shares of NASDAQ:GDEN traded down $1.54 during trading on Friday, reaching $25.22. 511,774 shares of the company traded hands, compared to its average volume of 207,466. The firm has a market capitalization of $666.56 million, a price-to-earnings ratio of 64.67 and a beta of 1.83. Golden Entertainment has a 52-week low of $22.66 and a 52-week high of $35.49. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The business's fifty day moving average is $28.98 and its 200-day moving average is $28.85.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Golden Entertainment had a return on equity of 3.10% and a net margin of 1.72%. The company had revenue of $163.62 million during the quarter, compared to analyst estimates of $169.70 million. As a group, analysts forecast that Golden Entertainment will post 0.2 EPS for the current year.

Institutional Trading of Golden Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning bought a new stake in Golden Entertainment in the 2nd quarter worth approximately $201,000. Geode Capital Management LLC increased its position in shares of Golden Entertainment by 4.9% during the 2nd quarter. Geode Capital Management LLC now owns 508,110 shares of the company's stock valued at $14,956,000 after purchasing an additional 23,542 shares during the last quarter. Jennison Associates LLC increased its position in shares of Golden Entertainment by 4.1% during the 2nd quarter. Jennison Associates LLC now owns 543,982 shares of the company's stock valued at $16,009,000 after purchasing an additional 21,415 shares during the last quarter. MGO One Seven LLC bought a new position in shares of Golden Entertainment during the 2nd quarter valued at approximately $251,000. Finally, DAVENPORT & Co LLC increased its position in shares of Golden Entertainment by 3.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 1,484,882 shares of the company's stock valued at $43,818,000 after purchasing an additional 53,582 shares during the last quarter. Institutional investors own 70.73% of the company's stock.

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.

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