Golden Entertainment (NASDAQ:GDEN) Price Target Cut to $39.00 by Analysts at Macquarie

Golden Entertainment (NASDAQ:GDEN) had its price objective lowered by Macquarie from $41.00 to $39.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Truist Financial decreased their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a buy rating for the company in a report on Friday, August 9th. StockNews.com lowered Golden Entertainment from a buy rating to a hold rating in a research report on Wednesday, July 24th. B. Riley decreased their price objective on Golden Entertainment from $44.00 to $40.00 and set a buy rating for the company in a research report on Monday, September 23rd. Finally, JMP Securities lowered their target price on Golden Entertainment from $39.00 to $36.00 and set a market outperform rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $37.80.

Golden Entertainment Stock Down 1.3 %

Shares of NASDAQ:GDEN opened at $30.78 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. The firm has a market cap of $891.05 million, a P/E ratio of 3.32 and a beta of 2.23. Golden Entertainment has a 12 month low of $27.42 and a 12 month high of $42.14. The company’s 50-day moving average price is $31.10 and its two-hundred day moving average price is $31.47.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The business had revenue of $167.33 million for the quarter, compared to analyst estimates of $176.34 million. As a group, research analysts forecast that Golden Entertainment will post 0.23 EPS for the current fiscal year.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 3.25%. Golden Entertainment’s payout ratio is 10.79%.

Insider Activity

In other news, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total transaction of $25,756.36. Following the transaction, the director now owns 82,740 shares of the company’s stock, valued at $2,756,896.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Golden Entertainment in the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new position in Golden Entertainment in the second quarter valued at about $37,000. Quarry LP bought a new position in shares of Golden Entertainment during the 2nd quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Golden Entertainment during the 2nd quarter worth approximately $54,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Golden Entertainment in the 2nd quarter worth approximately $89,000. 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.