Shares of Golden Entertainment Inc (NASDAQ:GDEN) reached a new 52-week low on Friday following a weaker than expected earnings announcement. The company traded as low as $13.75 and last traded at $13.86, with a volume of 53699 shares trading hands. The stock had previously closed at $17.69.

The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.26). The company had revenue of $210.34 million during the quarter, compared to analyst estimates of $214.70 million. Golden Entertainment had a return on equity of 1.89% and a net margin of 0.36%.

A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. ValuEngine lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Jefferies Financial Group boosted their price target on shares of Golden Entertainment from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. TheStreet cut shares of Golden Entertainment from a “b” rating to a “c” rating in a research report on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Golden Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.33.

In other Golden Entertainment news, Director Lyle Berman sold 36,493 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $27.49, for a total transaction of $1,003,192.57. Following the sale, the director now directly owns 913,293 shares of the company’s stock, valued at approximately $25,106,424.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen A. Arcana sold 8,656 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $28.31, for a total transaction of $245,051.36. Following the sale, the chief operating officer now directly owns 68,434 shares in the company, valued at $1,937,366.54. The disclosure for this sale can be found here. Insiders have sold a total of 210,024 shares of company stock worth $5,390,719 over the last three months. Insiders own 33.80% of the company’s stock.

A number of large investors have recently modified their holdings of GDEN. Monarch Partners Asset Management LLC bought a new stake in shares of Golden Entertainment in the 3rd quarter valued at about $16,967,000. BlackRock Inc. raised its holdings in shares of Golden Entertainment by 99.8% in the 1st quarter. BlackRock Inc. now owns 1,088,784 shares of the company’s stock valued at $25,292,000 after purchasing an additional 543,871 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Golden Entertainment in the 1st quarter valued at about $9,617,000. Allianz Asset Management GmbH raised its holdings in shares of Golden Entertainment by 576.6% in the 1st quarter. Allianz Asset Management GmbH now owns 441,382 shares of the company’s stock valued at $10,253,000 after purchasing an additional 376,142 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $7,745,000. 63.43% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.29 and a current ratio of 2.38. The firm has a market cap of $475.96 million, a PE ratio of 42.47, a PEG ratio of 2.25 and a beta of 0.92.

ILLEGAL ACTIVITY WARNING: “Golden Entertainment (GDEN) Hits New 52-Week Low on Disappointing Earnings” was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.watchlistnews.com/golden-entertainment-gden-hits-new-52-week-low-on-disappointing-earnings/2599146.html.

About Golden Entertainment (NASDAQ:GDEN)

Golden Entertainment, Inc, together with its subsidiaries, focuses on distributed gaming, and resort casino operations in the United States. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area.

Further Reading: What is a stock split?

Receive News & Ratings for Golden Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.