William Blair Investment Management LLC Has $9.33 Million Position in Golden Entertainment, Inc. $GDEN

William Blair Investment Management LLC cut its position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 28.2% in the third quarter, Holdings Channel reports. The institutional investor owned 395,547 shares of the company’s stock after selling 155,126 shares during the period. William Blair Investment Management LLC’s holdings in Golden Entertainment were worth $9,327,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Golden Entertainment in the 2nd quarter valued at $27,000. Tower Research Capital LLC TRC increased its position in shares of Golden Entertainment by 168.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after acquiring an additional 1,680 shares during the last quarter. Creative Planning bought a new stake in Golden Entertainment during the second quarter worth about $201,000. The Manufacturers Life Insurance Company bought a new position in Golden Entertainment in the second quarter valued at approximately $210,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Golden Entertainment during the 2nd quarter worth approximately $215,000. Institutional investors own 70.73% of the company’s stock.

Golden Entertainment Stock Down 0.5%

Golden Entertainment stock opened at $29.16 on Wednesday. The company’s 50-day moving average price is $27.82 and its two-hundred day moving average price is $26.22. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.96. The stock has a market cap of $763.99 million, a P/E ratio of -116.64 and a beta of 1.41. Golden Entertainment, Inc. has a twelve month low of $19.57 and a twelve month high of $32.74.

Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Friday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.12). The firm had revenue of $155.63 million during the quarter, compared to analyst estimates of $166.61 million. Golden Entertainment had a negative net margin of 0.95% and a positive return on equity of 0.50%. As a group, analysts expect that Golden Entertainment, Inc. will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, March 18th. Golden Entertainment’s dividend payout ratio is currently -400.00%.

Wall Street Analyst Weigh In

GDEN has been the subject of several recent analyst reports. Zacks Research raised Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings lowered shares of Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wells Fargo & Company reaffirmed a “sell” rating and issued a $30.00 target price (down from $34.00) on shares of Golden Entertainment in a report on Thursday, November 6th. Truist Financial boosted their price target on Golden Entertainment from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Finally, Citizens Jmp cut Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Golden Entertainment currently has an average rating of “Hold” and a consensus price target of $32.75.

About Golden Entertainment

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company’s core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT’s branded venues throughout Southern Nevada.