Golden Entertainment (NASDAQ:GDEN) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

GDEN has been the subject of a number of other reports. Weiss Ratings downgraded Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Wells Fargo & Company restated a “sell” rating and set a $30.00 price target (down previously from $34.00) on shares of Golden Entertainment in a research note on Thursday, November 6th. Truist Financial boosted their price objective on Golden Entertainment from $25.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Citizens Jmp lowered shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Macquarie reduced their price target on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Golden Entertainment has a consensus rating of “Hold” and an average target price of $32.60.

Golden Entertainment Trading Down 0.6%

Shares of NASDAQ GDEN traded down $0.17 during trading on Monday, reaching $29.69. The stock had a trading volume of 129,805 shares, compared to its average volume of 239,438. The business’s 50-day moving average price is $23.46 and its 200-day moving average price is $26.29. Golden Entertainment has a fifty-two week low of $19.57 and a fifty-two week high of $35.49. The company has a market cap of $777.05 million, a P/E ratio of 54.98 and a beta of 1.67. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.12.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). The firm had revenue of $154.82 million during the quarter, compared to analysts’ expectations of $157.21 million. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. On average, equities research analysts predict that Golden Entertainment will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. Golden Entertainment’s dividend payout ratio is 555.56%.

Institutional Trading of Golden Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC boosted its stake in shares of Golden Entertainment by 2.5% in the third quarter. DAVENPORT & Co LLC now owns 1,521,937 shares of the company’s stock valued at $35,692,000 after purchasing an additional 37,055 shares during the period. Gamco Investors INC. ET AL increased its stake in Golden Entertainment by 5.2% during the second quarter. Gamco Investors INC. ET AL now owns 868,146 shares of the company’s stock valued at $25,550,000 after purchasing an additional 42,720 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Golden Entertainment by 2.9% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 839,494 shares of the company’s stock valued at $19,795,000 after purchasing an additional 23,476 shares during the period. Penn Capital Management Company LLC increased its holdings in shares of Golden Entertainment by 29.3% in the 1st quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock worth $17,827,000 after acquiring an additional 152,805 shares during the period. Finally, Hill Path Capital LP raised its holdings in shares of Golden Entertainment by 477.8% during the second quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock valued at $19,295,000 after buying an additional 542,150 shares during the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

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.