Golden Entertainment, Inc. (NASDAQ:GDEN) Given Consensus Rating of “Buy” by Brokerages

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) have been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.33.

A number of equities research analysts have recently issued reports on the company. JMP Securities boosted their price objective on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday. Truist Financial dropped their target price on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research note on Monday. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, B. Riley decreased their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd.

Golden Entertainment Stock Performance

Shares of GDEN stock opened at $31.08 on Thursday. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $41.98. The company has a market capitalization of $852.49 million, a price-to-earnings ratio of 25.06 and a beta of 2.22. The company has a 50-day simple moving average of $31.99 and a 200 day simple moving average of $31.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 3.22%. Golden Entertainment’s dividend payout ratio is presently 80.65%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GDEN. Innealta Capital LLC bought a new position in shares of Golden Entertainment during the second quarter valued at $34,000. nVerses Capital LLC bought a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $37,000. Meeder Asset Management Inc. bought a new position in shares of Golden Entertainment during the third quarter worth about $42,000. Quarry LP acquired a new position in shares of Golden Entertainment in the second quarter worth approximately $52,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Golden Entertainment in the second quarter valued at approximately $54,000. Institutional investors own 70.73% of the company’s stock.

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.