Golden Entertainment (NASDAQ:GDEN) Shares Gap Up – Here’s Why

Golden Entertainment, Inc. (NASDAQ:GDEN) gapped up before the market opened on Thursday . The stock had previously closed at $21.23, but opened at $29.78. Golden Entertainment shares last traded at $28.9750, with a volume of 1,132,365 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the company. Macquarie cut their price target on Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Citizens Jmp lowered shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a report on Friday. Truist Financial raised their target price on shares of Golden Entertainment from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday. Weiss Ratings upgraded shares of Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Finally, Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Golden Entertainment has a consensus rating of “Hold” and an average target price of $32.60.

Golden Entertainment Stock Up 2.5%

The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $764.60 million, a PE ratio of 54.13 and a beta of 1.67. The company’s 50 day moving average is $23.26 and its two-hundred day moving average is $26.24.

Golden Entertainment (NASDAQ:GDEN) last released 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 for the quarter, compared to the consensus estimate of $157.21 million. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. On average, analysts anticipate that Golden Entertainment, Inc. will post 0.2 earnings per share for the current year.

Golden Entertainment Dividend Announcement

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

Institutional Investors Weigh In On Golden Entertainment

Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in shares of Golden Entertainment by 3.5% during the second quarter. State of Alaska Department of Revenue now owns 11,792 shares of the company’s stock worth $346,000 after purchasing an additional 397 shares during the last quarter. Invesco Ltd. raised its stake in shares of Golden Entertainment by 0.4% during the 1st quarter. Invesco Ltd. now owns 109,805 shares of the company’s stock valued at $2,898,000 after buying an additional 479 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Golden Entertainment by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 173,000 shares of the company’s stock valued at $4,565,000 after buying an additional 500 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Golden Entertainment by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,250 shares of the company’s stock valued at $802,000 after buying an additional 544 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Golden Entertainment by 2.9% in the first quarter. Victory Capital Management Inc. now owns 30,600 shares of the company’s stock worth $808,000 after buying an additional 849 shares during the last quarter. Hedge funds and other institutional investors own 70.73% of the company’s stock.

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.