Golden Entertainment (NASDAQ:GDEN) Hits New 12-Month Low - Should You Sell?

Key Points

• Golden Entertainment's stock reached a new 12-month low of $21.29 during trading, indicating a potential downtrend and raising questions about whether investors should consider selling.
• Analyst ratings have shifted, with Weiss Ratings downgrading the stock to a "sell" while Citigroup maintains an "outperform" rating, reflecting mixed sentiment among analysts.
• The company has a dividend yield of 4.6% after recently issuing a quarterly dividend of $0.25 per share, despite a high dividend payout ratio of 185.19%.

Golden Entertainment, Inc. (NASDAQ:GDEN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.29 and last traded at $21.37, with a volume of 37300 shares traded. The stock had previously closed at $21.44.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Golden Entertainment from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 8th. Citigroup reiterated an "outperform" rating on shares of Golden Entertainment in a research report on Tuesday, September 16th. Truist Financial lowered shares of Golden Entertainment from a "buy" rating to a "hold" rating and cut their target price for the stock from $36.00 to $34.00 in a research report on Wednesday, July 16th. JMP Securities cut their target price on shares of Golden Entertainment from $35.00 to $34.00 and set a "market outperform" rating for the company in a research report on Tuesday, September 16th. Finally, Macquarie lowered their price target on shares of Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $34.20.

Golden Entertainment Price Performance

The firm has a market capitalization of $564.10 million, a P/E ratio of 39.94 and a beta of 1.69. The firm's 50 day simple moving average is $24.45 and its two-hundred day simple moving average is $26.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 predict that Golden Entertainment, Inc. will post 0.2 earnings per share for the current year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Thursday, September 25th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 25th. Golden Entertainment's dividend payout ratio is 185.19%.

Hedge Funds Weigh In On Golden Entertainment

A number of institutional investors have recently bought and sold shares of GDEN. GAMMA Investing LLC raised its stake in Golden Entertainment by 1,136.9% in the first quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock worth $178,000 after buying an additional 6,185 shares in the last quarter. Inscription Capital LLC bought a new position in Golden Entertainment in the first quarter worth about $165,000. DAVENPORT & Co LLC raised its stake in Golden Entertainment by 10.7% in the first quarter. DAVENPORT & Co LLC now owns 1,431,300 shares of the company's stock worth $37,956,000 after buying an additional 138,137 shares in the last quarter. Principal Financial Group Inc. raised its stake in Golden Entertainment by 2.6% in the first quarter. Principal Financial Group Inc. now owns 102,344 shares of the company's stock worth $2,701,000 after buying an additional 2,639 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Golden Entertainment by 9.0% in the first quarter. Envestnet Asset Management Inc. now owns 80,241 shares of the company's stock worth $2,118,000 after buying an additional 6,621 shares in the last quarter. 70.73% of the stock is owned by institutional investors.

About Golden Entertainment

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.