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Golden Entertainment (NASDAQ:GDEN) Share Price Passes Above 200 Day Moving Average - What's Next?

Golden Entertainment logo with Consumer Discretionary background

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 traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities dropped their price objective on Golden Entertainment from $37.00 to $36.00 and set a "market outperform" rating on the stock 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 note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Golden Entertainment has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Read Our Latest Research Report on Golden Entertainment

Golden Entertainment Price Performance

The firm has a market capitalization of $819.07 million, a P/E ratio of 79.46 and a beta of 1.79. The business has a 50-day moving average of $28.43 and a 200 day moving average of $29.20. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Golden Entertainment had a net margin of 1.72% and a return on equity of 3.10%. The firm had revenue of $160.84 million during the quarter, compared to the consensus estimate of $164.37 million. On average, sell-side analysts predict that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, June 25th. Golden Entertainment's dividend payout ratio is currently 256.41%.

Institutional Trading of Golden Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new stake in Golden Entertainment during the 2nd quarter worth approximately $35,000. Lazard Asset Management LLC increased its holdings in Golden Entertainment by 405.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,871 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares in the last quarter. Meeder Asset Management Inc. increased 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 purchasing an additional 1,144 shares in the last quarter. Inscription Capital LLC bought a new stake in Golden Entertainment during the 1st quarter worth approximately $165,000. Finally, GAMMA Investing LLC increased its holdings in Golden Entertainment by 1,136.9% during the 1st quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock worth $178,000 after purchasing an additional 6,185 shares in the last quarter. 70.73% of the stock is owned by institutional investors.

Golden Entertainment Company Profile

(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.

Further Reading

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.

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