Golden Entertainment (NASDAQ:GDEN) Shares Cross Above Fifty Day Moving Average – Here’s Why

Golden Entertainment, Inc. (NASDAQ:GDEN)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $32.31 and traded as high as $34.38. Golden Entertainment shares last traded at $34.09, with a volume of 208,081 shares changing hands.

Analysts Set New Price Targets

GDEN has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Macquarie lowered their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Truist Financial lowered their price objective 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. Finally, JMP Securities restated a “market outperform” rating and issued a $36.00 target price on shares of Golden Entertainment in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Golden Entertainment Trading Up 0.6 %

The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The stock has a market cap of $935.09 million, a P/E ratio of 27.49 and a beta of 2.21. The firm’s 50-day simple moving average is $32.31 and its 200 day simple moving average is $31.70.

Insider Transactions at Golden Entertainment

In other news, Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the completion of the sale, the director now directly owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. This represents a 21.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 29.10% of the company’s stock.

Institutional Trading of Golden Entertainment

A number of institutional investors have recently made changes to their positions in GDEN. Meeder Asset Management Inc. acquired a new stake in shares of Golden Entertainment in the 3rd quarter worth approximately $42,000. BNP Paribas Financial Markets lifted its stake in Golden Entertainment by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after purchasing an additional 317 shares during the last quarter. Two Sigma Securities LLC lifted its stake in Golden Entertainment by 10.9% during the fourth quarter. Two Sigma Securities LLC now owns 7,219 shares of the company’s stock valued at $228,000 after purchasing an additional 709 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Golden Entertainment by 16.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,678 shares of the company’s stock valued at $243,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Golden Entertainment during the fourth quarter valued at approximately $256,000. 70.73% of the stock is owned by institutional investors and hedge funds.

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.