Golden Entertainment (NASDAQ:GDEN) Sets New 52-Week Low - Time to Sell?

Key Points

• Golden Entertainment's stock reached a new 52-week low of $22.63, closing at $22.55 amid trading volumes of 20,606 shares.
• Despite the stock's recent decline, several analysts including Citigroup and Wells Fargo maintain a positive outlook, with a consensus rating of "Moderate Buy" and a price target of $34.20.
• The company recently announced a quarterly dividend of $0.25, leading to an annual yield of 4.4%, although it has a high payout ratio of 185.19%.

Golden Entertainment, Inc. (NASDAQ:GDEN - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The stock traded as low as $22.63 and last traded at $22.55, with a volume of 20606 shares trading hands. The stock had previously closed at $22.87.

Wall Street Analysts Forecast Growth

GDEN has been the topic of several research reports. Citigroup reiterated an "outperform" rating on shares of Golden Entertainment in a research report on Tuesday, September 16th. Truist Financial cut Golden Entertainment from a "buy" rating to a "hold" rating and lowered their target price for the company from $36.00 to $34.00 in a report on Wednesday, July 16th. Wells Fargo & Company cut their price target on Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. JMP Securities reduced their price objective on Golden Entertainment from $35.00 to $34.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Golden Entertainment in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

Golden Entertainment Price Performance

The company has a fifty day simple moving average of $24.97 and a two-hundred day simple moving average of $26.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.12. The company has a market capitalization of $590.78 million, a price-to-earnings ratio of 41.84 and a beta of 1.69.

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

Golden Entertainment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 25th. This represents a $1.00 annualized dividend and a yield of 4.4%. Golden Entertainment's payout ratio is 185.19%.

Institutional Investors Weigh In On Golden Entertainment

Several hedge funds have recently modified their holdings of the stock. DAVENPORT & Co LLC raised its position in shares of Golden Entertainment by 10.7% in the 1st 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in Golden Entertainment by 14.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 352,843 shares of the company's stock valued at $9,312,000 after buying an additional 43,647 shares during the period. GSA Capital Partners LLP raised its holdings in Golden Entertainment by 21.8% in the first quarter. GSA Capital Partners LLP now owns 29,482 shares of the company's stock valued at $778,000 after buying an additional 5,273 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Golden Entertainment by 1,136.9% during 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. Finally, Trexquant Investment LP lifted its stake in shares of Golden Entertainment by 419.9% during the first quarter. Trexquant Investment LP now owns 42,198 shares of the company's stock worth $1,114,000 after purchasing an additional 34,081 shares in the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

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.

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.