Golden Entertainment, Inc. (NASDAQ:GDEN) Receives Average Rating of “Moderate Buy” from Brokerages

Golden Entertainment, Inc. (NASDAQ:GDEN) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $36.86.

Several research firms have issued reports on GDEN. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Jefferies Financial Group lifted their target price on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Macquarie reissued an “outperform” rating and issued a $40.00 price target on shares of Golden Entertainment in a report on Friday, February 28th. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $36.00 price objective on shares of Golden Entertainment in a research report on Thursday, January 16th.

Golden Entertainment Stock Down 3.8 %

GDEN opened at $26.52 on Friday. The company has a 50 day moving average of $30.78 and a 200 day moving average of $31.42. The company has a market cap of $703.07 million, a PE ratio of 21.39 and a beta of 2.29. Golden Entertainment has a 12 month low of $25.17 and a 12 month high of $36.92. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

Golden Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, March 21st. Golden Entertainment’s dividend payout ratio (DPR) is presently 59.88%.

Institutional Investors Weigh In On Golden Entertainment

Institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP lifted its stake in Golden Entertainment by 24.5% in the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after purchasing an additional 69,207 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Golden Entertainment by 4.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 673,667 shares of the company’s stock valued at $21,288,000 after acquiring an additional 27,508 shares during the last quarter. Barclays PLC lifted its stake in shares of Golden Entertainment by 84.7% in the 3rd quarter. Barclays PLC now owns 48,918 shares of the company’s stock valued at $1,556,000 after acquiring an additional 22,440 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Golden Entertainment by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after acquiring an additional 24,264 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after acquiring an additional 317 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.