Golden Entertainment’s (GDEN) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Golden Entertainment (NASDAQ:GDEN) in a research note released on Thursday,Benzinga reports. JMP Securities currently has a $36.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on the company. Macquarie dropped their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial cut their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group increased their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They issued an “overweight” rating and a $38.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.57.

Golden Entertainment Stock Performance

NASDAQ GDEN opened at $31.97 on Thursday. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $40.55. The company has a 50 day moving average of $32.54 and a 200-day moving average of $31.32. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The firm has a market cap of $876.94 million, a price-to-earnings ratio of 25.78 and a beta of 2.22.

Golden Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 3.13%. Golden Entertainment’s payout ratio is 80.65%.

Insiders Place Their Bets

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the transaction, the director now directly owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. This trade represents a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Golden Entertainment by 4.3% in the third 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 last quarter. Systematic Financial Management LP raised its position in shares of Golden Entertainment by 24.5% in the 3rd quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after acquiring an additional 69,207 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Golden Entertainment by 16.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock worth $8,860,000 after acquiring an additional 38,385 shares during the last quarter. Bernzott Capital Advisors grew its holdings in Golden Entertainment by 7.9% during the third quarter. Bernzott Capital Advisors now owns 247,632 shares of the company’s stock valued at $7,872,000 after purchasing an additional 18,233 shares during the period. Finally, Gabelli Funds LLC increased its stake in Golden Entertainment by 1.2% in the second quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock valued at $5,320,000 after purchasing an additional 2,000 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.