Golden Entertainment (NASDAQ:GDEN) Downgraded to Hold Rating by Citizens Jmp

Citizens Jmp downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a market outperform rating to a hold rating in a research report released on Friday morning, Marketbeat reports.

Several other equities research analysts have also commented on GDEN. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Truist Financial reduced their price objective on Golden Entertainment from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings upgraded Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Wells Fargo & Company reissued a “sell” rating and issued a $30.00 target price (down from $34.00) on shares of Golden Entertainment in a research note on Thursday. Finally, Citigroup restated an “outperform” rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Golden Entertainment presently has an average rating of “Hold” and an average price target of $32.60.

Golden Entertainment Trading Up 2.5%

GDEN stock traded up $0.71 on Friday, reaching $29.23. The company’s stock had a trading volume of 1,977,474 shares, compared to its average volume of 232,488. The firm has a market cap of $764.60 million, a PE ratio of 54.13 and a beta of 1.67. The business has a fifty day simple moving average of $23.26 and a two-hundred day simple moving average of $26.24. Golden Entertainment has a 12-month low of $19.57 and a 12-month high of $35.49. 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 issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.10). The company had revenue of $154.82 million during the quarter, compared to the consensus estimate of $157.21 million. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%. As a group, research analysts forecast that Golden Entertainment will post 0.2 EPS for the current year.

Golden Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. Golden Entertainment’s payout ratio is 185.19%.

Institutional Trading of Golden Entertainment

A number of large investors have recently made changes to their positions in GDEN. Raymond James Financial Inc. bought a new position in Golden Entertainment during the second quarter valued at approximately $27,000. Parallel Advisors LLC bought a new stake in Golden Entertainment in the 2nd quarter worth approximately $35,000. Tower Research Capital LLC TRC raised its stake in Golden Entertainment by 168.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after buying an additional 1,680 shares during the last quarter. Creative Planning bought a new position in shares of Golden Entertainment during the 2nd quarter valued at $201,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Golden Entertainment during the 2nd quarter valued at $210,000. 70.73% of the stock is currently owned by institutional investors.

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.