Golden Entertainment, Inc. (NASDAQ:GDEN) Sees Significant Decline in Short Interest

Golden Entertainment, Inc. (NASDAQ:GDEN) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 733,500 shares, a decline of 12.5% from the October 15th total of 838,000 shares. Based on an average daily trading volume, of 189,400 shares, the short-interest ratio is presently 3.9 days. Approximately 3.5% of the company’s shares are short sold.

Insider Buying and Selling at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the transaction, the director now directly owns 82,740 shares in the company, valued at approximately $2,756,896.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

Several institutional investors have recently bought and sold shares of GDEN. BNP Paribas Financial Markets boosted its position in shares of Golden Entertainment by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after purchasing an additional 317 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Golden Entertainment by 1.9% in the third quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock worth $557,000 after acquiring an additional 333 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Golden Entertainment by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock worth $327,000 after acquiring an additional 355 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Golden Entertainment by 5.0% during the third quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after acquiring an additional 402 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Golden Entertainment by 6.4% in the 3rd quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after purchasing an additional 494 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Golden Entertainment Stock Up 0.3 %

GDEN stock traded up $0.10 during trading on Monday, reaching $33.29. 217,140 shares of the company traded hands, compared to its average volume of 212,804. The company has a market capitalization of $913.11 million, a price-to-earnings ratio of 26.81 and a beta of 2.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.73 and a current ratio of 1.11. The business has a 50 day simple moving average of $31.15 and a 200 day simple moving average of $30.66. Golden Entertainment has a 12 month low of $27.42 and a 12 month high of $42.14.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GDEN. B. Riley decreased their price target on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. JMP Securities dropped their price target on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Monday, October 14th. Truist Financial decreased their price objective on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Macquarie lowered their price target 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.