Golden Entertainment (NASDAQ:GDEN) Share Price Passes 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 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.

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

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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