JMP Securities Trims Golden Entertainment (NASDAQ:GDEN) Target Price to $35.00

Golden Entertainment (NASDAQ:GDEN) had its price objective cut by JMP Securities from $36.00 to $35.00 in a report released on Monday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other research firms have also weighed in on GDEN. Macquarie lowered their price target on Golden Entertainment from $41.00 to $39.00 and set an outperform rating on the stock in a research report on Friday, October 4th. StockNews.com lowered shares of Golden Entertainment from a buy rating to a hold rating in a research report on Wednesday, July 24th. Truist Financial cut their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, B. Riley lowered their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a buy rating on the stock in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Golden Entertainment currently has a consensus rating of Moderate Buy and an average target price of $37.60.

Golden Entertainment Stock Up 1.4 %

Golden Entertainment stock opened at $30.03 on Monday. The company has a fifty day simple moving average of $30.93 and a 200 day simple moving average of $31.31. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $42.14. The company has a market cap of $869.34 million, a P/E ratio of 3.24 and a beta of 2.23.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The company had revenue of $167.33 million during the quarter, compared to the consensus estimate of $176.34 million. Research analysts anticipate that Golden Entertainment will post 0.18 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.33%. Golden Entertainment’s dividend payout ratio is currently 10.79%.

Insider Activity

In related news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total transaction of $25,756.36. Following the completion of the sale, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

A number of institutional investors have recently made changes to their positions in GDEN. Inscription Capital LLC acquired a new stake in Golden Entertainment during the 1st quarter worth approximately $226,000. Principal Financial Group Inc. grew its holdings in Golden Entertainment by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 620,654 shares of the company’s stock valued at $22,859,000 after buying an additional 5,446 shares in the last quarter. Jennison Associates LLC increased its position in Golden Entertainment by 31.4% during the 1st quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock worth $20,073,000 after buying an additional 130,204 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Golden Entertainment by 15.4% during the first quarter. Illinois Municipal Retirement Fund now owns 14,212 shares of the company’s stock worth $523,000 after buying an additional 1,896 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Golden Entertainment by 21.1% in the first quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock valued at $23,587,000 after acquiring an additional 111,701 shares during the period. Institutional investors 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.