JMP Securities Lowers Golden Entertainment (NASDAQ:GDEN) Price Target to $35.00

Golden Entertainment (NASDAQ:GDEN) had its price objective lowered by JMP Securities from $36.00 to $35.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Macquarie lowered their price target on Golden Entertainment from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Truist Financial cut their price target on Golden Entertainment from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, B. Riley reduced their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.60.

Golden Entertainment Trading Up 1.1 %

Shares of Golden Entertainment stock opened at $31.24 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. The company has a market capitalization of $904.37 million, a P/E ratio of 3.37 and a beta of 2.23. Golden Entertainment has a 1 year low of $27.42 and a 1 year high of $42.14. The business has a 50 day moving average price of $31.14 and a 200 day moving average price of $31.21.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. The firm had revenue of $167.33 million during the quarter, compared to analysts’ expectations of $176.34 million. Sell-side analysts anticipate that Golden Entertainment will post 0.18 EPS for the current fiscal year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Tuesday, September 17th. Golden Entertainment’s payout ratio is 10.79%.

Insider Buying and Selling

In related news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the sale, the director now directly owns 82,740 shares in the company, valued at $2,756,896.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Golden Entertainment by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,588,940 shares of the company’s stock valued at $58,521,000 after acquiring an additional 14,957 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Golden Entertainment by 132.1% during the second quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after acquiring an additional 846,269 shares during the period. Principal Financial Group Inc. boosted its stake in Golden Entertainment by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 620,654 shares of the company’s stock worth $22,859,000 after purchasing an additional 5,446 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Golden Entertainment by 2.2% in the first quarter. Gamco Investors INC. ET AL now owns 600,266 shares of the company’s stock valued at $22,108,000 after purchasing an additional 13,100 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Golden Entertainment by 31.4% during the first quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock valued at $20,073,000 after buying an additional 130,204 shares during the period. 70.73% of the stock is currently 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.