Terrence Wright Sells 16,586 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) Stock

Golden Entertainment, Inc. (NASDAQ:GDEN) Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction 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 directly owns 61,616 shares in the company, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Golden Entertainment Trading Up 0.2 %

GDEN opened at $31.12 on Friday. 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, Inc. has a 52 week low of $27.42 and a 52 week high of $40.85. The stock has a market cap of $853.59 million, a PE ratio of 25.10 and a beta of 2.22. The business has a 50 day moving average of $32.06 and a 200-day moving average of $31.15.

Golden Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, December 20th. Golden Entertainment’s dividend payout ratio is currently 80.65%.

Institutional Trading of Golden Entertainment

Hedge funds have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in Golden Entertainment during the 2nd quarter valued at about $34,000. nVerses Capital LLC bought a new position in shares of Golden Entertainment during the second quarter valued at approximately $37,000. Meeder Asset Management Inc. purchased a new position in shares of Golden Entertainment during the third quarter valued at approximately $42,000. Quarry LP bought a new stake in shares of Golden Entertainment in the 2nd quarter worth approximately $52,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Golden Entertainment in the 2nd quarter worth approximately $54,000. Institutional investors own 70.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JMP Securities raised their price target on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. Truist Financial reduced their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. B. Riley dropped their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company assumed coverage on Golden Entertainment in a research note on Monday, December 16th. They set an “overweight” rating and a $38.00 target price on the stock. Finally, Macquarie dropped their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

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.