Golden Entertainment (NASDAQ:GDEN) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Golden Entertainment (NASDAQ:GDEN) in a research note issued to investors on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $38.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the company. Macquarie reduced their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. JMP Securities raised their price target on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. B. Riley dropped their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. StockNews.com upgraded shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial dropped their target price on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Golden Entertainment Price Performance

Shares of Golden Entertainment stock opened at $31.08 on Monday. The company has a 50-day simple moving average of $31.96 and a two-hundred day simple moving average of $31.14. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $41.98. The stock 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 quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Golden Entertainment during the 2nd quarter worth $263,000. Assenagon Asset Management S.A. increased its stake in shares of Golden Entertainment by 2,745.8% in the second quarter. Assenagon Asset Management S.A. now owns 183,156 shares of the company’s stock valued at $5,698,000 after buying an additional 176,720 shares during the period. SummerHaven Investment Management LLC raised its holdings in Golden Entertainment by 3.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock valued at $564,000 after buying an additional 524 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Golden Entertainment by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 194,693 shares of the company’s stock worth $6,057,000 after buying an additional 4,761 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Golden Entertainment during the 2nd quarter worth approximately $54,000. 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.