Golden Entertainment (NASDAQ:GDEN) Hits New 52-Week Low – Here’s Why

Golden Entertainment, Inc. (NASDAQ:GDEN)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $24.48 and last traded at $25.06, with a volume of 106190 shares. The stock had previously closed at $27.46.

Analyst Upgrades and Downgrades

GDEN has been the topic of a number of recent research reports. Jefferies Financial Group increased their price target on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Golden Entertainment in a report on Thursday, January 16th. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Macquarie reissued an “outperform” rating and issued a $40.00 price objective on shares of Golden Entertainment in a research note on Friday, February 28th. Finally, Wells Fargo & Company assumed coverage on Golden Entertainment in a report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.86.

Golden Entertainment Stock Performance

The stock has a 50-day moving average of $30.42 and a 200 day moving average of $31.31. The stock has a market cap of $661.71 million, a PE ratio of 20.13 and a beta of 1.99. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Friday, March 21st. Golden Entertainment’s dividend payout ratio (DPR) is presently 59.88%.

Institutional Trading of Golden Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Golden Entertainment by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 1,490,019 shares of the company’s stock worth $47,085,000 after purchasing an additional 57,285 shares in the last quarter. DAVENPORT & Co LLC grew its position in Golden Entertainment by 26.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock worth $40,864,000 after buying an additional 271,782 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Golden Entertainment by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 673,667 shares of the company’s stock valued at $21,288,000 after buying an additional 27,508 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Golden Entertainment by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after acquiring an additional 24,264 shares during the period. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Golden Entertainment during the 4th quarter worth approximately $17,704,000. Hedge funds and other 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.