Zacks Investment Research downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a strong sell rating in a research note published on Tuesday morning.

According to Zacks, “Golden Entertainment, Inc. is a diverse gaming company which offers casino, distribute gaming and lottery services. The company’s gaming divisions consists of Golden Casino Group, PT’s Entertainment Group and Golden Route Operations. Golden Entertainment, Inc., formerly known as Lakes Entertainment, Inc., is based in Las Vegas, United States. “

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Several other brokerages have also recently weighed in on GDEN. BidaskClub upgraded Golden Entertainment from a hold rating to a buy rating in a research note on Saturday, February 3rd. TheStreet cut Golden Entertainment from a b rating to a c+ rating in a research note on Thursday, March 15th. Telsey Advisory Group started coverage on Golden Entertainment in a research note on Tuesday, March 13th. They set an outperform rating and a $32.00 price objective on the stock. Finally, Jefferies Group started coverage on Golden Entertainment in a research note on Thursday, January 18th. They set a buy rating and a $38.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Golden Entertainment presently has a consensus rating of Hold and an average price target of $35.00.

Golden Entertainment (NASDAQ:GDEN) opened at $23.51 on Tuesday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.52 and a current ratio of 1.71. Golden Entertainment has a 52 week low of $12.86 and a 52 week high of $34.75. The firm has a market capitalization of $693.73, a price-to-earnings ratio of 186.38 and a beta of 0.33.

In other news, Director Lyle Berman sold 750,000 shares of Golden Entertainment stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total transaction of $19,980,000.00. Following the sale, the director now directly owns 1,642,841 shares in the company, valued at approximately $43,765,284.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Blake L. Sartini sold 953,506 shares of Golden Entertainment stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $25,401,399.84. The disclosure for this sale can be found here. Insiders have sold a total of 5,750,000 shares of company stock worth $153,180,000 over the last quarter. Company insiders own 52.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems bought a new stake in shares of Golden Entertainment during the 4th quarter worth $168,000. Bessemer Group Inc. raised its stake in shares of Golden Entertainment by 194.4% during the 4th quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock worth $173,000 after purchasing an additional 3,500 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Golden Entertainment during the 4th quarter worth $180,000. Martingale Asset Management L P bought a new stake in shares of Golden Entertainment during the 4th quarter worth $223,000. Finally, Perkins Capital Management Inc. bought a new stake in shares of Golden Entertainment during the 4th quarter worth $257,000. Institutional investors own 40.57% of the company’s stock.

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Golden Entertainment Company Profile

Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.

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