Golden Entertainment (NASDAQ:GDEN) Earns Outperform Rating from Macquarie

Golden Entertainment (NASDAQ:GDEN)‘s stock had its “outperform” rating reissued by equities researchers at Macquarie in a report issued on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. Macquarie’s price objective indicates a potential upside of 35.34% from the company’s previous close.

A number of other brokerages have also issued reports on GDEN. StockNews.com raised Golden Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a report on Thursday, January 16th. Wells Fargo & Company began coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Golden Entertainment presently has an average rating of “Moderate Buy” and an average price target of $36.86.

Golden Entertainment Stock Down 4.1 %

Shares of GDEN traded down $1.27 during mid-day trading on Friday, reaching $29.56. 103,155 shares of the stock traded hands, compared to its average volume of 162,660. The firm has a market cap of $810.69 million, a price-to-earnings ratio of 23.86 and a beta of 2.21. The stock has a fifty day simple moving average of $32.24 and a 200 day simple moving average of $31.88. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. Golden Entertainment has a 12-month low of $27.42 and a 12-month high of $37.30.

Insider Activity at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the completion of the transaction, the director now owns 61,616 shares in the company, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

A number of hedge funds have recently added to or reduced their stakes in GDEN. BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 317 shares during the period. HighTower Advisors LLC grew its position in Golden Entertainment by 1.9% in the 3rd quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock worth $557,000 after purchasing an additional 333 shares during the last quarter. Beacon Investment Advisors LLC increased its stake in shares of Golden Entertainment by 0.8% in the fourth quarter. Beacon Investment Advisors LLC now owns 44,559 shares of the company’s stock valued at $1,408,000 after purchasing an additional 333 shares during the period. Empowered Funds LLC raised 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 buying an additional 402 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Golden Entertainment by 6.4% during the third quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after buying an additional 494 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors.

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.