Jefferies Financial Group Forecasts Strong Price Appreciation for Golden Entertainment (NASDAQ:GDEN) Stock

Golden Entertainment (NASDAQ:GDEN) had its target price raised by analysts at Jefferies Financial Group from $31.00 to $32.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 1.91% from the company’s previous close.

A number of other research analysts have also recently commented on the company. B. Riley dropped their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Truist Financial dropped their target price on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Macquarie reduced their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company started coverage on shares of Golden Entertainment in a report on Monday, December 16th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, JMP Securities boosted their target price on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.57.

Golden Entertainment Price Performance

Shares of NASDAQ:GDEN opened at $31.40 on Friday. Golden Entertainment has a one year low of $27.42 and a one year high of $40.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. The company has a market cap of $861.27 million, a price-to-earnings ratio of 25.32 and a beta of 2.22. The firm has a 50 day simple moving average of $32.25 and a 200 day simple moving average of $31.25.

Insider Transactions at Golden Entertainment

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $31.26, for a total transaction of $518,478.36. Following the sale, the director now owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. This represents a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GDEN. BNP Paribas Financial Markets increased its holdings in Golden Entertainment by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after purchasing an additional 317 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Golden Entertainment by 1.9% in the 3rd quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock valued at $557,000 after acquiring an additional 333 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Golden Entertainment by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after acquiring an additional 355 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Golden Entertainment by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after acquiring an additional 402 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Golden Entertainment by 6.4% during the third quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock worth $262,000 after acquiring an additional 494 shares in the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

About Golden Entertainment

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.