Golden Entertainment (NASDAQ:GDEN) Stock Price Down 7.5% Following Insider Selling

Golden Entertainment, Inc. (NASDAQ:GDEN) shares dropped 7.5% during trading on Monday after an insider sold shares in the company. The company traded as low as $29.03 and last traded at $29.03. Approximately 74,543 shares changed hands during trading, a decline of 65% from the average daily volume of 214,071 shares. The stock had previously closed at $31.37.

Specifically, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total transaction of $25,756.36. Following the sale, the director now directly owns 82,740 shares in the company, valued at approximately $2,756,896.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

GDEN has been the topic of a number of research reports. B. Riley dropped their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Macquarie reduced their price objective on Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. JMP Securities lowered their target price on Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Finally, Truist Financial reduced their price target on 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 research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Golden Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Golden Entertainment Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. The firm has a market capitalization of $906.68 million, a P/E ratio of 3.38 and a beta of 2.23. The firm’s fifty day moving average price is $31.08 and its 200-day moving average price is $31.65.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). The firm had revenue of $167.33 million for the quarter, compared to analyst estimates of $176.34 million. Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. As a group, equities research analysts forecast that Golden Entertainment, Inc. will post 0.25 earnings per share for the current year.

Golden Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Tuesday, September 17th. Golden Entertainment’s payout ratio is 10.79%.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC boosted its holdings in Golden Entertainment by 132.1% during the second quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock worth $46,251,000 after buying an additional 846,269 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Golden Entertainment by 2,745.8% during the second 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 lifted its holdings in shares of Golden Entertainment by 31.4% during the first quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock valued at $20,073,000 after purchasing an additional 130,204 shares during the last quarter. Systematic Financial Management LP boosted its position in shares of Golden Entertainment by 78.2% in the 2nd quarter. Systematic Financial Management LP now owns 283,020 shares of the company’s stock valued at $8,805,000 after purchasing an additional 124,218 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Golden Entertainment by 100.9% in 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 in the last quarter. Institutional investors and hedge funds 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.