Golden Entertainment (NASDAQ:GDEN) Price Target Cut to $40.00

Golden Entertainment (NASDAQ:GDEN) had its target price lowered by equities research analysts at B. Riley from $44.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective indicates a potential upside of 27.71% from the company’s previous close. B. Riley also issued estimates for Golden Entertainment’s Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.30 EPS.

GDEN has been the subject of several other research reports. Macquarie reduced their price target on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. JMP Securities reduced their price target on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Truist Financial reduced their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Golden Entertainment Stock Up 2.8 %

Shares of NASDAQ:GDEN opened at $31.32 on Monday. The company has a market capitalization of $906.68 million, a PE ratio of 3.38 and a beta of 2.23. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $42.14. The firm has a 50 day simple moving average of $31.08 and a 200-day simple moving average of $31.65.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $167.33 million for the quarter, compared to analysts’ expectations of $176.34 million. Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. On average, equities analysts predict that Golden Entertainment will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Golden Entertainment

In other Golden Entertainment news, Director Mark A. Lipparelli sold 773 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the transaction, the director now directly owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Golden Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in GDEN. William Blair Investment Management LLC grew its stake in shares of Golden Entertainment by 132.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock worth $46,251,000 after purchasing an additional 846,269 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Golden Entertainment by 2,745.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 183,156 shares of the company’s stock worth $5,698,000 after purchasing an additional 176,720 shares during the period. Jennison Associates LLC grew its stake in shares of Golden Entertainment by 31.4% during the 1st quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock worth $20,073,000 after purchasing an additional 130,204 shares during the period. Systematic Financial Management LP grew its stake in shares of Golden Entertainment by 78.2% during the 2nd quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock worth $8,805,000 after purchasing an additional 124,218 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Golden Entertainment by 100.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock worth $5,089,000 after purchasing an additional 82,175 shares during the period. 70.73% of the stock is owned by institutional investors and hedge funds.

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.