Golden Entertainment (NASDAQ:GDEN) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Golden Entertainment, Inc. (NASDAQ:GDEN) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $32.48 and traded as high as $33.11. Golden Entertainment shares last traded at $33.03, with a volume of 120,614 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GDEN shares. JMP Securities reiterated a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a research report on Thursday, January 16th. Macquarie lowered their price objective on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Truist Financial cut their target price on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group boosted their price target on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Golden Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Golden Entertainment Price Performance

The business has a 50-day moving average price of $32.48 and a two-hundred day moving average price of $31.48. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $906.01 million, a price-to-earnings ratio of 26.64 and a beta of 2.22.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The firm had revenue of $161.23 million during the quarter, compared to analysts’ expectations of $162.22 million. Golden Entertainment had a net margin of 5.23% and a return on equity of 0.69%. During the same period last year, the company earned ($0.02) earnings per share. As a group, research analysts anticipate that Golden Entertainment, Inc. will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.03%. Golden Entertainment’s payout ratio is 80.65%.

Insider Activity

In other news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the sale, the director now directly owns 61,616 shares in the company, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Golden Entertainment

Several large investors have recently added to or reduced their stakes in GDEN. Meeder Asset Management Inc. purchased a new stake in shares of Golden Entertainment during the 3rd quarter valued at approximately $42,000. Quarry LP bought a new stake in shares of Golden Entertainment during the 2nd quarter valued at about $52,000. Canada Pension Plan Investment Board bought a new stake in Golden Entertainment during the second quarter valued at approximately $143,000. BNP Paribas Financial Markets grew its position in Golden Entertainment by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after acquiring an additional 317 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Golden Entertainment during the second quarter worth about $228,000. Hedge funds and other 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.