Weiss Ratings Downgrades Golden Entertainment (NASDAQ:GDEN) to Sell (D+)

Key Points

• Weiss Ratings has downgraded Golden Entertainment from a "hold (C-)" to a "sell (D+)" rating, reflecting a negative outlook on the company's stock.
• Multiple analysts have adjusted their price targets for Golden Entertainment, with Macquarie reducing its target from $38.00 to $37.00, while Truist Financial cut its target from $36.00 to $34.00.
• Golden Entertainment is currently showing a consensus rating of "Hold" among analysts, with a target price averaging $34.20.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) was downgraded by stock analysts at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the company. Macquarie decreased their target price on Golden Entertainment from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Truist Financial cut Golden Entertainment from a "buy" rating to a "hold" rating and cut their price target 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 on the stock in a report on Tuesday, August 12th. Citigroup reaffirmed an "outperform" rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Finally, JMP Securities cut their price target on Golden Entertainment from $35.00 to $34.00 and set a "market outperform" rating on the stock in a report on Tuesday, September 16th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $34.20.

Golden Entertainment Stock Performance

Shares of GDEN stock opened at $21.84 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average of $24.70 and a two-hundred day moving average of $26.79. Golden Entertainment has a 52 week low of $21.72 and a 52 week high of $35.49. The company has a market cap of $571.33 million, a P/E ratio of 40.45 and a beta of 1.69.

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

Institutional Investors Weigh In On Golden Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its holdings in Golden Entertainment by 10.7% during the first quarter. DAVENPORT & Co LLC now owns 1,431,300 shares of the company's stock worth $37,956,000 after purchasing an additional 138,137 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 in the last quarter. GSA Capital Partners LLP increased its holdings in shares of 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Golden Entertainment by 1,136.9% in the first quarter. GAMMA Investing LLC now owns 6,729 shares of the company's stock valued at $178,000 after buying an additional 6,185 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Golden Entertainment by 419.9% in the first quarter. Trexquant Investment LP now owns 42,198 shares of the company's stock valued at $1,114,000 after buying an additional 34,081 shares in the last quarter. Institutional investors own 70.73% of the company's stock.

About Golden Entertainment

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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