Golden Entertainment (NASDAQ:GDEN) Stock Crosses Above 200 Day Moving Average - What's Next?

Golden Entertainment, Inc. (NASDAQ:GDEN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.20 and traded as high as $31.07. Golden Entertainment shares last traded at $30.99, with a volume of 233,027 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GDEN. JMP Securities lowered their target price on shares of 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. Wall Street Zen raised Golden Entertainment from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Golden Entertainment Stock Performance

The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $850.25 million, a P/E ratio of 82.49 and a beta of 1.79. The company's 50 day moving average is $28.68 and its 200-day moving average is $29.19.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $160.84 million for the quarter, compared to analyst estimates 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 anticipate that Golden Entertainment, Inc. will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were issued a $0.25 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $1.00 annualized dividend and a yield of 3.11%. Golden Entertainment's payout ratio is currently 256.41%.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC purchased a new position in shares of Golden Entertainment during the second quarter valued at approximately $35,000. Lazard Asset Management LLC lifted its stake in Golden Entertainment by 405.7% during 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. boosted its holdings in Golden Entertainment by 86.0% during the 4th quarter. Meeder Asset Management Inc. now owns 2,474 shares of the company's stock worth $78,000 after acquiring an additional 1,144 shares during the last quarter. Inscription Capital LLC purchased a new position in Golden Entertainment during the 1st quarter worth $165,000. Finally, GAMMA Investing LLC grew its stake in shares of Golden Entertainment by 1,136.9% in the 1st quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock worth $178,000 after acquiring an additional 6,185 shares in 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.