Golden Entertainment (NASDAQ:GDEN) Stock Price Down 7.5% on Insider Selling

Golden Entertainment, Inc. (NASDAQ:GDEN) fell 7.5% during mid-day trading on Monday following insider selling activity. The company traded as low as $29.03 and last traded at $29.03. 74,543 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 214,071 shares. The stock had previously closed at $31.37.

Specifically, Director Mark A. Lipparelli sold 773 shares of the firm’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 completion of the transaction, the director now directly owns 82,740 shares in the company, valued at $2,756,896.80. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GDEN. B. Riley decreased their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday. JMP Securities decreased their target price on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Macquarie decreased their price target on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Truist Financial decreased their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, August 9th. One 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, Golden Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Golden Entertainment Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. The firm has a market capitalization of $906.68 million, a price-to-earnings ratio of 3.38 and a beta of 2.23. The firm’s fifty day moving average is $31.08 and its 200 day moving average is $31.65.

Golden Entertainment (NASDAQ:GDEN) last issued 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). The business had revenue of $167.33 million for the quarter, compared to the consensus estimate of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. On average, analysts predict that Golden Entertainment, Inc. will post 0.25 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, September 17th. Golden Entertainment’s payout ratio is presently 10.79%.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Golden Entertainment during the second quarter valued at approximately $52,000. Systematic Financial Management LP lifted its stake in shares of Golden Entertainment by 78.2% in the second quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock worth $8,805,000 after buying an additional 124,218 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Golden Entertainment by 3.5% during the 2nd 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. AQR Capital Management LLC grew its position in shares of Golden Entertainment by 274.1% in the second quarter. AQR Capital Management LLC now owns 61,182 shares of the company’s stock valued at $1,903,000 after purchasing an additional 44,827 shares during the last quarter. Finally, III Capital Management acquired a new stake in shares of Golden Entertainment in the second quarter valued at about $622,000. Institutional investors own 70.73% of the company’s stock.

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.