Golden Entertainment (NASDAQ:GDEN) Price Target Lowered to $36.00 at JMP Securities

Golden Entertainment (NASDAQ:GDEN) had its price target reduced by JMP Securities from $39.00 to $36.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a market outperform rating on the stock.

Other analysts also recently issued reports about the company. Truist Financial cut their price objective on Golden Entertainment from $43.00 to $40.00 and set a buy rating for the company in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Golden Entertainment from $42.00 to $36.00 and set a buy rating for the company in a research report on Thursday, May 9th. StockNews.com lowered shares of Golden Entertainment from a buy rating to a hold rating in a report on Wednesday, July 24th. Finally, B. Riley started coverage on shares of Golden Entertainment in a report on Friday, April 26th. They issued a buy rating and a $46.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $39.40.

Golden Entertainment Trading Up 2.0 %

Shares of Golden Entertainment stock traded up $0.55 during mid-day trading on Friday, hitting $28.67. The stock had a trading volume of 241,978 shares, compared to its average volume of 220,665. The firm has a market cap of $829.97 million, a P/E ratio of 3.09 and a beta of 2.23. The company has a quick ratio of 2.33, a current ratio of 2.36 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average of $30.12 and a two-hundred day moving average of $32.94. Golden Entertainment has a 12-month low of $27.42 and a 12-month high of $42.14.

Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Wednesday, May 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.50). Golden Entertainment had a return on equity of 1.13% and a net margin of 30.14%. The business had revenue of $174.05 million for the quarter, compared to analyst estimates of $168.72 million. Sell-side analysts forecast that Golden Entertainment will post 0.5 earnings per share for the current year.

Golden Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, September 17th. Golden Entertainment’s payout ratio is 10.79%.

Hedge Funds Weigh In On Golden Entertainment

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC raised its stake in shares of Golden Entertainment by 6.5% in the fourth quarter. Jennison Associates LLC now owns 414,810 shares of the company’s stock valued at $16,563,000 after acquiring an additional 25,355 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Golden Entertainment by 21.1% in the 1st quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock valued at $23,587,000 after buying an additional 111,701 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Golden Entertainment during the fourth quarter worth about $973,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Golden Entertainment during the fourth quarter worth approximately $386,000. Finally, Phocas Financial Corp. raised its holdings in Golden Entertainment by 1.8% in the fourth quarter. Phocas Financial Corp. now owns 112,995 shares of the company’s stock valued at $4,512,000 after acquiring an additional 2,016 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

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.