Golden Entertainment (NASDAQ:GDEN) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Golden Entertainment (NASDAQ:GDEN) to a "Hold" rating; the consensus across analysts is also a Hold (1 Buy, 5 Hold, 1 Sell) with an average price target of $32.75.
• The company recently missed quarterly expectations, reporting ($0.01) EPS versus $0.11 expected and revenue of $155.63M versus $166.61M, producing a negative net margin and minimal return on equity.
• Shares trade around $28.55 with a market cap of about $753.7M, a negative P/E (-114.2), a 12‑month range of $19.57–$32.74, and roughly 70.7% institutional ownership.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) was upgraded by analysts at Wall Street Zen to a "hold" rating in a research note issued on Saturday.

A number of other brokerages also recently issued reports on GDEN. Weiss Ratings downgraded Golden Entertainment from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. Citigroup restated a "market perform" rating on shares of Golden Entertainment in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $32.75.

Golden Entertainment Stock Performance

Shares of GDEN stock opened at $28.55 on Friday. The company has a market capitalization of $753.72 million, a P/E ratio of -114.20 and a beta of 1.25. The business's 50 day moving average is $27.88 and its two-hundred day moving average is $27.24. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 1.01. Golden Entertainment has a 12-month low of $19.57 and a 12-month high of $32.74.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.12). The business had revenue of $155.63 million for the quarter, compared to analysts' expectations of $166.61 million. Golden Entertainment had a positive return on equity of 0.51% and a negative net margin of 0.95%.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in GDEN. Bernzott Capital Advisors raised its position in Golden Entertainment by 55.2% in the third quarter. Bernzott Capital Advisors now owns 336,288 shares of the company's stock valued at $7,930,000 after purchasing an additional 119,606 shares during the period. Seven Six Capital Management LLC purchased a new stake in Golden Entertainment in the third quarter valued at $1,794,000. Teton Advisors LLC purchased a new stake in Golden Entertainment in the third quarter valued at $2,311,000. Union Square Park Capital Management LLC raised its position in Golden Entertainment by 18.0% in the third quarter. Union Square Park Capital Management LLC now owns 142,500 shares of the company's stock valued at $3,360,000 after purchasing an additional 21,700 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in Golden Entertainment by 3.8% in the third quarter. Gamco Investors INC. ET AL now owns 901,138 shares of the company's stock valued at $21,249,000 after purchasing an additional 32,992 shares during the period. Hedge funds and other institutional investors own 70.73% of the company's stock.

About Golden Entertainment

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company's core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy's Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT's branded venues throughout Southern Nevada.

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