Golden Entertainment (NASDAQ:GDEN) PT Lowered to $40.00 at B. Riley

Golden Entertainment (NASDAQ:GDEN) had its price objective decreased by B. Riley from $44.00 to $40.00 in a report released on Monday, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Golden Entertainment’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.08 EPS.

Several other analysts also recently weighed in on GDEN. Macquarie decreased their target price on Golden Entertainment from $44.00 to $41.00 and set an outperform rating for the company in a research note on Friday, August 9th. Truist Financial cut their price target on Golden Entertainment from $40.00 to $38.00 and set a buy rating for the company in a report on Friday, August 9th. JMP Securities lowered their price objective on shares of Golden Entertainment from $39.00 to $36.00 and set a market outperform rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com cut shares of Golden Entertainment from a buy rating to a hold rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $38.20.

Golden Entertainment Trading Down 0.1 %

Shares of GDEN stock opened at $31.30 on Monday. Golden Entertainment has a 12 month low of $27.42 and a 12 month high of $42.14. The company has a market cap of $886.42 million, a PE ratio of 3.38 and a beta of 2.23. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $31.08 and its two-hundred day moving average is $31.65.

Golden Entertainment (NASDAQ:GDEN) last announced 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). The firm had revenue of $167.33 million during the quarter, compared to the consensus estimate of $176.34 million. Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. Equities analysts predict that Golden Entertainment will post 0.23 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.19%. Golden Entertainment’s payout ratio is 10.79%.

Insider Buying and Selling

In other Golden Entertainment news, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction on 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 owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 29.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Golden Entertainment

Several large investors have recently modified their holdings of GDEN. William Blair Investment Management LLC lifted its position in shares of Golden Entertainment by 132.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock worth $46,251,000 after buying an additional 846,269 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Golden Entertainment by 2,745.8% during the second quarter. Assenagon Asset Management S.A. now owns 183,156 shares of the company’s stock valued at $5,698,000 after acquiring an additional 176,720 shares during the period. Jennison Associates LLC boosted its stake in shares of Golden Entertainment by 31.4% in the 1st quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock valued at $20,073,000 after purchasing an additional 130,204 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Golden Entertainment by 78.2% in the 2nd quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock worth $8,805,000 after purchasing an additional 124,218 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Golden Entertainment by 100.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock worth $5,089,000 after purchasing an additional 82,175 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors.

About Golden Entertainment

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.