Golden Entertainment (NASDAQ:GDEN) Rating Increased to Buy at StockNews.com

Golden Entertainment (NASDAQ:GDEN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities research analysts also recently commented on the stock. Truist Financial reduced their target price on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company began coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They set an “overweight” rating and a $38.00 price target on the stock. Jefferies Financial Group upped their target price on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Golden Entertainment in a research report on Thursday, January 16th. Finally, Macquarie decreased their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.57.

Golden Entertainment Price Performance

GDEN traded down $0.09 during midday trading on Thursday, reaching $33.46. 165,085 shares of the company’s stock were exchanged, compared to its average volume of 140,393. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $32.34 and a two-hundred day simple moving average of $31.76. The firm has a market capitalization of $917.81 million, a price-to-earnings ratio of 26.98 and a beta of 2.21. Golden Entertainment has a one year low of $27.42 and a one year high of $37.30.

Insider Transactions at Golden Entertainment

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the transaction, the director now owns 61,616 shares of the company’s stock, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 29.10% of the company’s stock.

Institutional Trading of Golden Entertainment

A number of hedge funds have recently made changes to their positions in GDEN. Vanguard Group Inc. raised its holdings in Golden Entertainment by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 1,490,019 shares of the company’s stock valued at $47,085,000 after acquiring an additional 57,285 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Golden Entertainment by 26.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock worth $40,864,000 after purchasing an additional 271,782 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Golden Entertainment by 4.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 673,667 shares of the company’s stock worth $21,288,000 after purchasing an additional 27,508 shares during the last quarter. Geode Capital Management LLC boosted its stake in Golden Entertainment by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after purchasing an additional 24,264 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new position in Golden Entertainment in the 4th quarter valued at $17,704,000. 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.